Axyon AI, a Modena, Italy-based company specializing in AI-driven solutions for asset management, has closed €3.9 million ($4.4 million) a funding.
SaaS Investors
The round included €2.3 million in new cash led by US-based firm Montage Ventures, TechShop SGR, and a select group of angel investors. Additionally, the remaining €1.6 million was raised through the conversion of convertible notes from 2022 subscribed by CDP Venture Capital, ING Ventures, UniCredit, and others.
Founded in 2013, Montage Ventures is an early-stage venture capital firm. The firm backs ambitious founders that improve the lives of consumers across fintech, commerce, and healthcare categories.
Techshop SGR Fund is a 2022 vintage early-stage venture capital fund managed by The Techshop. The fund is located in Milan, Italy, and invests in Italy.
Axyon Use of Funds
The company will use the investment to support its commercial expansion and technological development initiatives.
About Axyon AI
Founded in 2016, Axyon AI is a fintech company that focuses on the application of advanced artificial intelligence in the investment management sector. Axyon AI leverages cutting-edge AI technology to provide predictive solutions for asset managers, offering insights and active indices to navigate complex market dynamics. Axyon AI is on a mission to provide the world's most advanced AI and deep learning solutions for asset management.
Funding Details
Company: Axyon AI SRL
Raised: €3.9M
Round: Unknown
Funding Month: January 2024
Lead Investors: Montage Ventures, TechShop SGR
Additional Investors: CDP Venture Capital, ING Ventures, UniCredit
Company Website: https://axyon.ai/
Software Category: Financial
Source: https://ffnews.com/newsarticle/funding/axyon-ai-secures-e39-million-investment-round-to-expand-ai-innovations-for-asset-managers/