Tattarang has today announced an investment in GLX Digital, a West Australian company that has developed the first end-to-end trading software solution for global commodity markets.
Tattarang joins this Series A funding round alongside other strategic investors, including Australia’s largest oil and gas company, Woodside Energy Ltd, and Shell Ventures.
GLX Digital develops cloud hosted Software as a Service (SaaS) enabled transaction management and deal capture systems for global commodity markets.
The software digitises the direct sales channel between commodity sellers and buyers while also allowing companies the ability to manage their own existing business IT systems.
Tattarang Chief Investment Officer John Hartman believes that GLX’s market-leading software, together with GLX’s experienced management team, provides a compelling investment opportunity for Tattarang.
“Tattarang shares the vision GLX Digital has to support the digitisation of commodity markets globally,” Mr Hartman said.
“GLX Digital has established a blue-chip user base including the largest energy and trading companies globally. Beyond LNG, we foresee an opportunity to customise GLX’s software for other investments in Tattarang’s portfolio.
“We are also particularly pleased to support a Perth-based technology company.”
Founder and CEO of GLX Digital, Damien Criddle, said the company was pleased to have a strategic investor of Tattarang’s calibre participate in this funding round after an extensive review process.
“Since we launched, GLX Digital has successfully validated its software solution, with more than 70 of the largest energy and trading companies signed to our GLX CONNECT platform,” Mr Criddle said.