The value of the investments was not disclosed.
The capital deployed will be used to enhance technology and expand Kemiex’s product scope beyond nutrition and health ingredients, to agrochemicals, other chemicals, and raw materials.
Kemiex also outlined how it plans to enhance its apps and white-label platforms for raw material procurement, sales, and analytics to facilitate trade and risk management for customers, helping them solving complex challenges such as Product Carbon Footprint (PCF) and GHG reporting.
The investors will add extensive capabilities and network in commodity trade, risk management and data, reported Kemiex. In addition, they will help it accelerate its go to market via their extensive network in agriculture and in other sectors, said the Zurich based company.
DTN and the CME group are leaders and innovators in data, risk management, and trade in agriculture with a particularly strong market coverage in North America.
In terms of why Kemiex is interested in moving into the ‘agrochemicals and other chemicals’ space, Pau Franquet, CEO and co-founder of Kemiex, told us:
“It comes as a natural but accelerated expansion into exciting new markets that will not change our focus on feed, food, and pharmaceutical ingredients. Existing customers of our specialized purchasing cloud-software for nutritional and pharmaceutical additives started using it to cover their demand of fertilizer, industrial chemicals, vegoils, grains and derivatives already. Moreover, experts we have talked to in agriculture and industrial chemicals industries over the past two years confirmed the product-market readiness, wishing to have similar software and intelligence solutions for their products and sectors.”
Franquet continued: “There will be mutual synergies and commercial opportunities between Kemiex, CME Group and DTN, as well as other portfolio companies related to them. Most important for our platform members, Kemiex will be well positioned to make available more and meaningful market data and risk management solutions in one single platform.”
