Axyon AI, the forefront AI fintech company based in Modena, has successfully raised €3.9 million in its latest funding round, signaling a significant milestone in its quest to revolutionize the Asset Management industry with cutting-edge AI technology. The funding, led by Montage Ventures and accompanied by The Techshop SGR, as well as other angel investors, will propel Axyon AI’s commercial expansion and technological development initiatives.

The funding breakdown includes €2.3 million in new cash, with an additional €1.6 million secured through the conversion of convertible notes issued in 2022. Notable contributors to this round include the “Rilancio Startup Fund” by CDP Venture Capital, ING Ventures, and UniCredit, among others.

Axyon AI, founded in 2016 by CEO Daniele Grassi, specializes in delivering advanced AI-driven predictive solutions, helping asset managers uncover alpha opportunities through optimized indices on equities and ETFs, as well as AI-powered asset rankings. This strategic approach allows asset managers to navigate complex market dynamics with precision and insight, enhancing their decision-making processes.

Daniele Grassi, commenting on the successful funding round, stated, “This fundraising round, bolstered by the partnership with Montage Ventures and Techshop, is a significant leap forward. Their confidence in our vision and extensive support are instrumental to our accelerated growth. This investment ushers in an innovation and commercial expansion era at Axyon AI, and I’m eager to work towards our vision of providing the most accurate and reliable AI solutions for investment management.”

Todd Kimmel, Managing Director of Montage Ventures, expressed his belief in Axyon AI’s potential, stating, “We believe that asset allocation is undergoing a transformative phase, and AI will play a pivotal role in shaping its future. Axyon AI is well-positioned to capitalize on this opportunity by leveraging its state-of-the-art technology to deliver alpha opportunities via AI-powered asset rankings and model strategies on their preferred asset classes.”

Gianluca D’Agostino and Aurelio Mezzotero, managing partners at The Techshop, added, “We are pleased to invest in Axyon AI and help them scale their customer base. AI will become centric to every asset manager’s investment process, and in this new world, Daniele and his team are in a promising position to take center stage.”

Axyon AI’s commitment to innovation is evident in its experimentation with Quantum computing applications in the investment management sector. The company has also been recognized in the AIFINTECH100 for 2023, solidifying its position as one of the world’s most innovative AI technology providers for financial services.

As Axyon AI embarks on this transformative journey, the collaboration with Montage Ventures and The Techshop is expected to provide the necessary support, expertise, and resources for the company to further advance its mission of shaping the future of asset management through AI-driven solutions.