Axyon AI, an AI provider for asset managers, has scored €1.6m in a funding round headed by Fondo Rilancio Startup.
Also taking part in the round were CDP Venture Capital SGR, ING, UniCredit, Metes and Geminea.
Founded in 2016, Axyon leverages the most recent advancements in deep learning to create bespoke business applications for asset management and trading.
The company originally received its first external investment from ING Bank before completing a €1.5m funding round. This enabled Axyon to boost the development of its technology for financial market predictions.
Axyon will use this new round of funding to support its international growth and to evolve Axyon IRIS. IRIS is Axyon’s flagship product that provides AI-powered market insights and investment strategies.
Axyon AI CEO and co-founder Daniele Grassi said, “This latest funding round is a crucial step in developing Axyon AI’s proposition, supporting research & development, and our international expansion.
“Our technology has already proven its performance in the asset management industry, and clients increasingly trust Axyon AI to support their investment management processes.”
Sustainability-focused asset management platform Ethic recently closed its Series C on $50m. Investment management firm Jordan Park Group led the round, as well as participation from UBS.
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