Blockchain startup Axoni has raised $32 million in a Series B financing round led by Goldman Sachs and Nyca Partners.

The round also saw participation from Andreessen Horowitz, Citi, Coatue Management, Digital Currency Group, F-Prime Capital, Franklin Templeton Investments, J.P. Morgan, NEX Group, Wells Fargo, and Y Combinator.

Goldman Sachs is an existing investor, having participated in the firm’s $18 million Series A funding round in 2016. The latest round brings Axoni’s total funding till date to over $55 million.

"Axoni 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," said Ashwin Gupta, Managing Director of Goldman Sachs.

Founded in 2013, Axoni is based in New York and specializes in distributed ledger infrastructure. Last November, it successfully completed the second phase of peer-to-peer blockchain infrastructure for equity swaps processing in collaboration with an eleven-firm working group.

According to the official release, Axoni's AxCore technology has been deployed across a variety of markets ranging from complex derivatives to high-volume foreign exchange.

The company plans to use the funding to enhance its data synchronization technology, expand its suite of infrastructure products to support mission-critical deployments of AxCore, and broaden the network of enterprises leveraging distributed ledgers. It will also advance the development of AxLang, the world's first Ethereum-compatible smart contracting language to enable formal verification.

"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 Axoni's technology," said Greg Schvey, CEO of Axoni.