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
