Goldman Sachs leads Axoni’s $32m funding round
New York-based blockchain provider Axoni has completed a $32 million Series B financing round led by Goldman Sachs and Nyca Partners, bringing its total funding above $55 million.
“The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications”
It must be doing something right as plenty of other big names are keen to get involved. The financing round also included participation from Andreessen Horowitz, Citi, Coatue Management, Digital Currency Group, F-Prime Capital, Franklin Templeton Investments, JP Morgan, NEX Group, Wells Fargo, and Y Combinator.
C. Thomas Richardson, head of market structure and electronic trading services at Wells Fargo Securities, says: “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.”
According to Axoni, its AxCore technology has been deployed across a variety of markets ranging from derivatives to foreign exchange.
Its system has been used to underpin legal records, lifecycle events, and cash flow calculations.
Axoni will use the latest round of financing to enhance its data synchronisation technology and expand its suite of infrastructure products for AxCore.
It will also develop AxLang, an Ethereum-compatible smart contracting language to enable formal verification.
