Molten Ventures announced that it has invested €8.6M funding in Series A extension round in General Index (GX), a London-based energy price benchmark provider.
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London-based General Index, an energy price benchmark provider, has secured $10M (approximately €8.6M) in a Series A extension round investment from Molten Ventures.
Molten Ventures is one of the most active venture capital firms in Europe, developing and investing in disruptive, high-growth technology companies.
Currently, the VC is a shareholder in a diverse portfolio of companies, including Revolut, Ledger and ICEYE.
George Chalmers, Partner at Molten Ventures, comments, “We’ve tracked General Index for over a year and have been consistently impressed by Neil and his team’s ability to win trust, deliver innovation, and drive adoption in a notoriously entrenched market. As energy markets evolve and new asset classes emerge, we believe GX is uniquely positioned to become the next global leader in commodity and energy data. We’re excited to support their journey and look forward to working closely with the team as they scale.”
The investment will help the UK company grow, driving greater efficiency and innovation across global commodity markets.
The capital will also help the company to expand further into energy transition markets such as carbon, hydrogen, and sustainable aviation fuel, while supporting the development of GX Go to enhance access to real-time, transparent data.
General Index: Commodity pricing provider
Founded in 2020 by Neil Bradford, General Index offers an alternative to traditional price-reporting agencies, leveraging technology for improved accuracy and compliance in benchmark pricing.
The firm publishes over 5,000 daily indices for crude oil, natural gas, refined products, and LPG, and is expanding its coverage to include emerging sectors such as carbon, hydrogen, and biofuels.
The company is trusted by significant market participants, including Bloomberg, BP, and ICE, as it adapts to changing market demands characterised by increased transparency and automation.
“We’re excited to work with Molten because our vision aligns with their investment thesis, and they bring great expertise from similar investments. Molten’s investment is a strong endorsement of our vision to redefine commodity pricing and of the progress we’ve made so far. With their backing, we’re well-positioned to scale our platform and bring the benefits of transparent pricing to an even wider range of markets.” – Neil Bradford, CEO, General Index.
