Axoni Closes $32 Million Funding Round Led by Goldman Sachs ๐จ This article is 6 years old...
Axoni Closes $32 Million Funding Round Led by Goldman Sachs
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Updated: Apr. 6, 2020 at 1:19 am UTC
Photo by Thomas Millot on Unsplash
Axoni, a New York-based enterprise provider of blockchain technology, has completed a $32 million Series B funding round. Major players took part in the funding round includingย Goldman Sachs, NYCA Partners, Digital Currency Group, J.P. Morgan, Wells Fargo, Citi and Andreessen Horowitz.
The funding round was announced on Axoni’s official blog, Aug. 14.
Founded in 2013, Axoni specializes in delivering distributed ledger technology to a variety of leading financial institutions. Additionally, the company uses theirย AxCore technology in a plethora of markets including high-volume foreign exchanges and derivatives.
Through the years, the company has forged plenty of strategic partnerships, whichย Axoni’s CEO Greg Schvey attributes to the company’s success:
“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 Axoniโs technology.”
Moving forward, Axoni will utilize the funding to expand its suite of infrastructure products to enhance its data synchronization technology, according to the official release.
Following the closure of the successful investment round, top executives had plenty to say with regard to blockchain technology. According to Axoni’s blog post, the head of market structure and electronic trading services at Wells Fargo, C. Thomas Richardson, said:
“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 Axoniโs ability to facilitate such adoption by identifying use cases that could benefit from blockchain technology.”
Ashwin Gupta, managing director at Goldman Sachs, added:
โAxoni 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.”
In the midst of a cryptocurrency bear market, it is reassuring to hear words of reinforcement from high-ranking executives at financial institutions like Goldman Sachs and Wells Fargo. After all, interest, investment and adoption from these corporations are huge stepping stones for decentralized digital assets.
While the cryptocurrency market is significantly lower than it was in January, it’s still astronomically higher than it was a few years ago, and a slow but steady increase in price is better in the long run for the market than rapid price inflation.
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Goldman Sachs
Goldman Sachs a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
Digital Currency Group
Digital Currency Group’s mission is to accelerate the development of a better financial system.
a16z
Andreessen Horowitz (known as “a16z”) is a venture capital firm in Silicon Valley specializing in investing in seed, start-ups, early, mid-stage, growth, and late stage.