Xpansive, a data startup that focuses on the commodity value chain, has attracted $10 million in Series A Funding from the likes of BP Ventures, Avista Development, and Energy Innovation Capital.
More on Xpansiv from this report in AIAuthority:
Xpansiv transforms primary production data into Digital Feedstock™, a new data format that combines data science, cryptography, and distributed-ledger technologies to securely and cost-effectively deliver science-based, data-driven information to global markets. For the first time, markets can efficiently assess and transact commodities in a digital format that includes information vital to their value in today’s complex marketplace.
“Digital Feedstock provides the basis for the digital migration of a multi-trillion-dollar industry,” said Joe Madden, Xpansiv Co-Founder and CEO. “The Xpansiv platform represents a paradigm shift in global commodity markets, and we’ve joined forces with leaders in the commodity sector—spanning production, trade, consumption, market-data distribution, and price reporting—in order to accelerate the digital transformation already under way.”
Xpansiv’s investors include: BP Ventures, the venture arm of one of the world’s leading energy producers and traders; Avista Development, a wholly owned subsidiary of Avista Corp. with a long history of energy market and technology innovation; S&P Global, a leading provider of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide; and EIC, a premier capital provider to innovators developing leading energy technologies.
