Axoni finishes series B funding with JPMorgan and Goldman Sachs among investors

Posted 15 August, 2018

The developer of blockchain corporate solutions – Axoni – completed series B funding round with $32 million investments coming from Goldman Sachs and Nyca Partner among other companies.

According to the company, it managed to attract $55 million of venture capital in total for now.  Andreessen Horowitz, Citi, JP Morgan, Wells Fargo, Y Combinator, Digital Currency Group reportedly took part in the Series B round.

Axoni representative stated that the funds would be spent for financing further development of synchronization technologies and Ethereum-comparable language for smart contracts called AxLang. Moreover, the developer also plans to expand its services of a DLT-based network – AxCore.

"The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications," noted representative of Wells Fargo Securities.

For reference, the Series A funding round brought $18 million and ended in late 2016. Notably, Wells Fargo, Goldman Sachs, JP Morgan and Andreessen Horowitz also took part in the investment that time, while Citi provided funding in May 2017 (amount of the investment is unknown).

JPMorgan and Goldman Sachs joined trials of DLT swaps based on AxCore last year.

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16 August, 2018 10:50

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