Italian fintech company Axyon AI has closed its latest funding round led by the US-based venture capital firm Montage Ventures and accompanied by Techshop SGR, alongside other angel investors. The round will provide 2.3 million euros in new cash and other 1.6 million euros secured through the conversion of the convertible notes issued in 2022, subscribed by the “Rilancio Startup fund” by CDP Venture Capital, ING Ventures and UniCredit, among others.

Since its foundation in 2016, Axyon AI aimed at delivering advanced AI-driven predictive solutions to enable asset managers to navigate complex market dynamics with greater precision and insight. This fundraising round - says Daniele Grassi, CEO and co-founder of Axyon AI - is a significant leap forward for the company because "ushers in an innovation and commercial expansion era at Axyon AI".

Asset allocation is undergoing a transformative phase, Axyon backers explain, and AI will play an important role in shaping its future. “AI will become centric to every asset manager's investment process and turn into a global, truly borderless industry", say Gianluca D'Agostino and Aurelio Mezzotero, managing partners at Techshop.

Axyon AI wants to play an important role as well, in this evolution, leveraging what it considers a state-of-the-art technology. Axyon AI’s models - the Italian company explains - learn to rank assets according to their expected performance. These AI-based rankings can be used to sort the assets belonging to the investment universe according to their expected performance on a given time horizon in the future.

This AI technology is flexible enough - Axyon investors think - to position Axyon "as a strategic partner capable of evolving alongside the dynamic requirements of the financial ecosystem". In market where execution is a key element of any growth strategy, Axyon can count on an interesting portfolio of big customers, including A2A, Anima, Enel and Mediolanum.