The company aims to cover every product in the oil and gas sector by the end of next year and then expand into other commodity markets. It also plans to develop premium insights, optimize workflow processes, and create AI tools for forward-looking predictions and reports. Sparta, currently located in Geneva, London, Houston, Singapore, and Madrid, plans to expand within these territories and establish a presence in new regions.
Key takeaways:
- Sparta, a startup that provides live market intelligence and forecasting insight for commodity traders, has raised $17.5 million in a series A funding round led by FirstMark.
- The company has developed a platform that uses AI, machine learning, and data science to capture non-liquid prices and process them into forward-looking insights and predictive analytics for traders.
- Sparta plans to use the funding to expand its product offerings beyond oil and gas, cover every product in the oil and gas sector by the end of next year, and enter other commodity markets. It also aims to develop AI tools that can provide forward-looking predictions and reports.
- The company, which is currently located in Geneva, London, Houston, Singapore and Madrid, also plans to expand its global presence and establish a foothold in new regions.