ING and Unicredit have participated in a €1.6 million investment round for Axyon AI, an Italian fintech that provides asset managers with AI-driven market insights and investment strategies.
The funding round was led by CDP Venture Capital, with Geminea and Metes also joining as co-investors.
Founded in Modena, Italy, in 2016, Axyon AI gained its initial external investment from ING after securing a spot in the bank’s international Innovation Studio acceleration program in Amsterdam. In 2018, the company raised €1.5 million in a funding round led by ING and UniCredit, which helped enhance its development of proprietary AI technology for financial market predictions and support its business growth.
Daniele Grassi, co-founder and CEO of Axyon AI, stated, “This latest funding round is a crucial step in developing Axyon AI’s proposition, supporting research and development, and our international expansion. These new financial resources will help to reinforce the growth of our team and support our continued focus on innovating and improving our AI and Deep Learning models, which have already become an integral part of our clients’ investment processes.”