Tallarium, a provider of unique trade analytics for price discovery in off-exchange energy markets, has raised $1.6m in an investment.
The investment was provided by XTX Ventures, which is the venture capital arm of leading algorithmic trading firm XTX Markets, as well as fellow VC Reciprocal.
Tallarium’s platform automatically gathers and structures pricing information from broker chat messenger and voice conversations to create the industry’s first, definitive price discovery platform for the entire market.
Its data analytics provides a step-change in off-exchange energy trading, making manual data-entry and analysis obsolete, increasing efficiencies and helping traders to maximise the potential of every trade.
Tallarium will use the investment to fund its ongoing expansion as the ‘single source of truth’ for pricing in the energy trading markets.
Tallarium CEO and founder Stanislav Ermilov said, “Tallarium will help bring all the benefits of digitisation to energy traders, such as centralised pricing and access to increased liquidity, without asking traders to change the way they trade. Our technology empowers energy traders to trade more profitably by capturing more opportunities and helping them to manage and respond to market risk more effectively.
“We’re delighted to have secured the backing of key strategic partners such as XTX and Reciprocal Ventures, who bring with them deep domain expertise in data and capital markets.
“They will contribute their experience and invaluable advice to our team as we continue to grow and this additional funding will allow us to accelerate our development and scaling even further. We look forward to a long and successful relationship with our new investors.”
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