Open Mineral: Raises $33m for metal commodity trading platform

Open Mineral: Raises $33m for metal commodity trading platform

• Open Mineral advance the trade of base metal raw materials and secondary products using technology and analytics
• Raised $33 million in a Series C funding round led by Mubadala Investment Company
• Xploration Capital, Emerald Technology Ventures, Statkraft Ventures, and Lingfeng Capital joined the round
• The metal raw commodities market is a $200 billion space, with most of its participants still trading via paper documents
• Company looking to upend this, registering over 900 metals and mining companies to its digital platform
• The company developed proprietary pricing algorithms it says drive broader value creation through the commodity supply chain