Open Mineral secured $33 million in Series C funding led by Mubadala Investment Company to enhance its digital trading platform for global base metals, aiming to position itself as a leader in the industry's shift towards digitization and sustainability.
Information on the Target
Open Mineral is a pioneering digital trading platform for global base metals commodities, having recently secured a $33 million Series C funding round led by Mubadala Investment Company. This investment involves existing shareholders such as Xploration Capital and Emerald Technology Ventures, alongside new contributors Statkraft and Lingfeng Capital. The capital raised will be utilized to accelerate Open Mineral's development, reinforcing its physical supply chain operations and enhancing its leadership in the digitization of metal trading.
The global market for metal commodities exceeds $200 billion, with many participants still relying on paper documentation for transactions. Open Mineral's platform has successfully registered over 900 metal and mining companies worldwide, having developed specialized pricing algorithms that empower the industry through its commodity supply chain.
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Industry Overview in the Target’s Specific Country
Recently, the metal and mining sectors have come under increased pressure to digitize their operations, especially within the context of climate change discuss
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Disclosed details
Transaction Size: $33M