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At a Glance
Reports state that the fund shall be utilized to develop their software platform and introduce offerings to manage renewables credits, back-office energy-trading, and risk management functions. Taking the fundraise to their LinkedIn handle, thanking the investors, Molecule announced their aspirations to emerge as the best Energy Trade Risk and Management (ETRM) in the market.
We started Molecule with power first, and we plan to further build out Elektra for physical and financial power. We’re also working on world-class offerings for managing renewables credits and back-office functionality.Molecule
Commenting on the investment, Sameer Soleja, Founder and CEO of Molecule Software, believes that the funding fuels Molecule’s aspirations of emerging the number one SaaS platform for power and renewables and for becoming the market leader.
“Molecule is ready to power the energy transition,” Sameer added.
Founded in 2012, Molecule develops cloud-based software offerings for commodity trading, risk management, hedge funds, private equity firms, energy informatics, and other customers who trade power, gas, crude, refined products, chemicals, and agriculture commodities. The company reports tens of millions of dollars to sell on their platform daily. Their Software products automate market data reporting, position calculations, fund allocation, and much more.
Preceding this fund, Molecule had raised $1.1 million from Mercury Fund in a 2014 Seed round. Their total funding now stands at $14.3 million.
Commenting on the investment, Blair Garrou, Managing Director at Mercury Fund, expressed delight in the acquisition and added that Molecule’s success in the ETRM/CTRM industry, especially concerning electricity and renewables, places them as the company to look up to and beat for the energy transition in the 2020s.
Mercury Fund is excited to be backing Molecule in their Series A round of financing. Over the past few years, Molecule has become the leading SaaS platform for energy and commodities trading. Congrats to Houston-based Sameer Soleja and the entire team on all of your successBlair Garrou