ElectronX Secures $30 Million Series A Funding Led by DCVC and Global Energy Firms

ElectronX, a U.S.-regulated energy exchange, has closed a $30 million Series A funding round led by DCVC, a seed round investor, with participation from XTX Markets, Five Rings, NGP, GTS, and JACS Capital. Returning investors Innovation Endeavors, Systemiq Capital, Equinor Ventures, and Shell Ventures also joined the round.

The funding brings ElectronX's total raised amount to $55 million, aimed at developing and operating the first U.S.-regulated, direct-access power derivatives market. The exchange, granted status as both a Designated Contract Market (DCM) and Designated Clearing Organization (DCO) by the U.S. Commodity Futures Trading Commission, will provide small-sized, fully collateralized financial instruments for electricity markets.

ElectronX's first products include hourly bounded futures and binary options for the Electric Reliability Council of Texas (ERCOT) market, with plans to launch contract suites for other regional transmission organizations and independent system operators in 2026. Sam Tegel, CEO of ElectronX, expressed enthusiasm for the Series A funding, citing the increasing demand for intraday hedging tools in the volatile short-term power market. Ali Tamaseb, a General Partner at DCVC, highlighted ElectronX's role in supporting the electrification of the American industrial base and the transition to renewables.

The firm aims to provide critical risk management tools to meet the changing power requirements resulting from increasing data center demand. ElectronX, headquartered in Chicago, aims to address volatile short-term price exposure to electricity and expand the nation's power grid by facilitating increased investment in energy generation, renewable resources, and battery storage technology.