Axoni Blockchain Project Gets $32M Led by Goldman Sachs, JPMorgan, Wells Fargo and Citi

Axoni Receives $32 Million In Funding From Goldman Sachs And JPMorgan

Axoni, an enterprise-focused blockchain startup just completed a Series B funding round and raised $32 million in the process. Participants in the funding round included Goldman Sachs, Nyca Partners, Andreesen Horowitz, Citi, JPMorgan, Wells Fargo, Digital Currency Group, and a number of others. The funding brings Axoni’s total venture capital funding to over $55 million.

The platform intends to use the funds to develop both data synchronization technology and Ethereum-compatible smart contract language, AxLang and to increase the number of protects related to its auditable distributed ledger-based network, called AxCore.

Gred Schvey, Axoni’s CEO, released a statement concerning the firm’s expansion of enterprises using distributed ledger technology. Further, Thomas Richardson, the head of Market Structure and Electronic Trading Services at Wells Fargo Securities mentioned, “The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications.”

The platform also conducted a Series A round in 2016, which was led by Wells Fargo. The platform raised $18 million during that around. Additionally, JPMorgan and Goldman Sachs participated in a trial of equity swaps DLT system in late 2017, using Axoni’s core platform. The platform also teamed with Clearmatics to release a derivatives contract on one blockchain and settle it on another.