Xpansiv, a San Francisco, CA-based provider of a platform for Intelligent Commodities, closed its $10M Series A funding.
The round was led by BP Ventures, Avista Development, S&P Global (NYSE: SPGI), and Energy Innovation Capital (EIC).
Led by Joe Madden, Co-Founder and CEO, Xpansiv transforms primary production data into Digital Feedstock, a new data format that combines data science, cryptography, and distributed-ledger technologies to securely deliver science-based, data-driven information to global markets. Markets can efficiently assess and transact commodities in a digital format that includes information vital to their value in today’s complex marketplace.
The announcement follows the company’s recent partnership with CBL Markets, a global spot exchange operator for environmental commodities.
Xpansiv is also working with BP to convert some of its natural gas production data into Digital Feedstock, enabling BP to offer differentiated products derived from source data.