Vortexa, a real-time global analytics platform for energy and freight markets, completed its $34 million Series C funding round.
Investment funds managed by Morgan Stanley Expansion Capital spearheaded the funding, with strong participation from existing investors Notion Capital, Monashees, Metaplanet, FJ Labs and Communitas Capital.
The investment brings the total amount raised by Vortexa since its inception to more than $60 million. Funds will be used to further accelerate the company’s international expansion and improve their technology and service quality.
Vortexa’s CEO Fabio Kuhn said that “despite one of the toughest fundraising environments for tech companies in the recent past, this funding round was significantly oversubscribed.”
“Vortexa has doubled its valuation since its Series B funding round in 2021 and, having grown three times faster than the median SaaS business over the last year, is near profitability with an immense untapped market opportunity ahead,” Kuhn said.
Recommended Reading
Galp Seeks to Sell Stake in Namibia Oilfield After Discovery, Sources Say
2024-04-22 - Portuguese oil company Galp Energia has launched the sale of half of its stake in an exploration block offshore Namibia.
Pitts: Heavyweight Battle Brewing Between US Supermajors in South America
2024-04-09 - Exxon Mobil took the first swing in defense of its right of first refusal for Hess' interest in Guyana's Stabroek Block, but Chevron isn't backing down.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
2024-04-12 - Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
2024-04-15 - Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.
Technip Energies Wins Marsa LNG Contract
2024-04-22 - Technip Energies contract, which will will cover the EPC of a natural gas liquefaction train for TotalEnergies, is valued between $532 million and $1.1 billion.