News

Vortexa raises US$19 million in Series B funding

KUALA LUMPUR, Feb 2 -- Vortexa, the energy intelligence provider, has raised US$19 million in Series B funding, whereby the round was led by monashees with participation from all existing investors, including Notion Capital, Mosaic Ventures and Metaplanet Holdings. (US$1 = RM4.045)

The investment brings the total amount raised by Vortexa to more than US$30 million since inception. Vortexa will use the funding to further accelerate its international expansion and product development.

According to a statement, Vortexa empowers energy trading and shipping companies to make superior decisions on the movement of energy at a global scale and in real time. 

Vortexa’s clients include oil supermajors, commodities trading houses, investment banks, brokers and ship owners, spanning across all continents.

“The combination of state-of-the-art technology with energy markets expertise provided by Vortexa is unlocking immense value for our clients, partners and society - our success is a reflection of theirs,” said Vortexa Founder and Chief Executive Officer, Fabio Kuhn.

“With our Series B, we are well positioned to scale our international expansion and technology development even faster.”

Vortexa has experienced exponential growth since announcing its Series A in 2019, tripling revenues in 2020 and opening offices in Singapore and the US, while doubling its organisation to more than 70 people - and 2021 is looking even more promising.

-- BERNAMA

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