Axyon AI, a leading AI provider for the asset management industry, has announced the completion of a €1.6 million funding round. The round has been led by the Fondo Rilancio Startup (Relaunch Start-up Fund), managed by CDP Venture Capital SGR, with ING, UniCredit, Geminea and Metes as co-investors.

Axyon AI will use this new round of funding to support its international growth and to evolve Axyon IRIS®, it's flagship product that empowers asset managers with AI-powered market insights and investment strategies.

Founded in Modena, Italy, in 2016, Axyon AI received its first external investment from ING Bank after winning ING's international Innovation Studio acceleration program in Amsterdam. In 2018, it completed a €1.5 million funding round led by ING and UniCredit. This enabled the start-up to boost the development of its proprietary, fully automated AI technology for financial markets predictions, and to bootstrap its business development effort, leading to several commercial successes.

Daniele Grassi, Co-Founder and CEO of Axyon AI, 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.

“This funding round provides further evidence that the market recognises Axyon AI’s commitment to AI excellence. 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.”