JP Morgan, Goldman Sachs, Nyca Partners, and Others Lead Axoni’s $32 Million Series B Funding Round
Originally published on: CoinSpeaker
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August 15, 2018
A number of prominent companies participated in $32 million Series B funding round of Axoni, the software developer from New York.
Axoni, the US-based blockchain software developer which targets capital markets with DLT solutions, has announced the completion of its Series B financing round during which blockchain startup has managed to raise $32 million.
The investment procedure was led by the bank giant Goldman Sachs and Nyca Partners, the investment fund created by the former Visa president Hans Morris.
The list of other companies that backed the funding round includes such leading global financial players as J.P. Morgan, Citigroup and Wells Fargo. Digital Currency Group, F-Prime Capital, Franklin Templeton Investments, Coatue Management, NEX Group, and Y Combinator took part in the investment procedure as well.
Not revealing the exact sum of money received from each of the 12 participating companies, Axoni is going to allocate the raised funds for upgrading its data synchronization technology and developing its AxCore system based on the distributed ledger technology.
According to the company, since the beginning of this year it has managed to raise more than $55 million. To recall, in December 2016 Azoni managed to complete its Series A Funding having raised $18 million.
Then company saw support from such investors as Wells Fargo, J.P. Morgan, Andreessen Horowitz, Digital Currency Group, Goldman Sachs, F-Prime Capital Partners, FinTech Collective, and Thomson Reuters. As can be easily seen, some of them have taken a decision to support Axoni this year as well.
Greg Schvey, CEO of Axoni, commented their relations with their partners the following way:
“Our strategic partners have been critical to our success so far; we are delighted to strengthen and expand those relationships with this financing as we continue to deploy Axoni’s technology.”
Being founded back in 2013 Axoni has become one of the leading companies working with blockchain technology. Such a success was possible owing to mutually beneficial partnerships with major banking institutions, asset managers, and market infrastructure companies.
The company’s AxCore technology is now being used across a variety of industries. Moreover, it has become the most promising technology for the $11 trillion credit derivatives market.
According to the company’s announcement, now it is going to focus its attention on development of AxLang which is an Ethereum-compatible smart contract language designed with a view to ensure facilitation of formal verification.
The companies that Axoni works with highly appreciate such an opportunity. One of such, Ashwin Gupta, Managing Director of Goldman Sachs, noted:
“Axoni has established itself as a market leader in enterprise blockchain, delivering solutions that can be used at scale across financial markets. We are pleased to work with them as they execute their strategy.”
Currently Axoni is actively cooperating with Depository Trust and Clearing Corporation (DTCC), the US post-trade financial services provider. The main aim of their work is to transfer DTCC Trade Information database to blockchain-based system.