Molecule, a Houston, TX-based SaaS cloud-native ETRM/CTRM platform provider, closed a $12m Series A funding.
Backers included Mercury.
The company will use the new capital to further build out its Elektra offering for physical and financial power and launch offerings to manage renewables credits and back-office ETRM functionality.
Led by Sameer Soleja, founder and CEO, Molecule provides SaaS based energy trading and risk management solution which supports a wide variety of physical and financial commodities, including power, natural gas, crude/refined products, chemicals, agricultural commodities, softs, metals, cryptocurrencies, and more.
The company serves commodity traders, risk managers, and operations teams in power, gas, crude, refined products, chemicals, and agricultural products at hedge funds, marketers, hedge advisors, IPPs, and world-scale energy and PE firms.