London-based Vortexa has secured $19 million in Series B financing for its energy analytics platform, which the startup says gives its clients a view on the flow of energy at a global level in real time.
The funding round was led by Brazilian venture capital firm monashees, with participation from existing investors Mosaic, Notion and Metplanet Holdings.
Vortexa says it currently tracks more than $2 trillion in energy cargos per year, useful market intelligence for energy trading and shipping companies, commodities trading houses, investment banks, brokers and so on.
Its platform uses historical and current data, gleaned from a network of sources including satellite constellations, port agents, governments and brokers, to generate predictions, including future loadings and delivery dates of cargoes at sea.
Founded in 2016 by Fabio Kuhn, the former Head of Trading Technology & Analytics at BP, Vortexa is said to have tripled its revenues, doubled the size of its team to 70+ staff, and opened a US office in Houston – in the course of just one year.
“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 Kuhn. “With our Series B, we are well positioned to scale our international expansion and technology development even faster.”