Axoni blockchain start-up raised $ 32 million in the series B financing round, led by Goldman Sachs and Nyca Partners.
Well-known companies such as Andreessen Horowitz, Citi, JP Morgan, Wells Fargo, Y Combinator and Digital Currency Group also took part in the investment round. As a result of the campaign, the total volume of venture investments in Axoni was $ 55 million.
According to representatives of the New York company, the funds raised will be used to continue the development of data synchronization technology and the Ethereum-compatible language of the AxLang smart contracts. Also, the money will be spent on creating new products based on an audited distributed network called AxCore.
Axoni CEO Greg Svehi said that his startup is seeking to increase the number of companies using blockchain based solutions based on Axoni developments.
We are pleased to be part of Axoni’s journey since co-leading their Series A financing back in December 2016, and we are excited to see their progress made to date. The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications. We continue to be impressed with Axoni’s ability to facilitate such adoption by identifying use cases that could benefit from blockchain technology.
C. Thomas Richardson
Head of Market Structure and Electronic Trading Services, Wells Fargo Securities
In the spring of last year, the startup received $ 20 million from Citi, the banking giant, a year earlier - $ 18 million from a number of large financial institutions and venture investors.