Lifelong commodities trader Scott Evans has joined forces with a technology guru and a physical logistics specialist to co-found Cmdty, with the aim of creating a digital marketplace for physical commodities.
Cmdty, which has already raised $10 million in its series A financing, plans to launch its pilot program in the first half of 2020. The goal is to use technology to streamline the physical commodities supply chain and to dramatically improve the way that physical commodities are traded, transacted and transported."How can it be that I can easily buy and track a pair of shoes online, but I have to call and email around to arrange for the pickup of hundreds of thousands of dollars-worth of copper and hope that the metal arrives at its final destination?" Evans said."The commodities industry is clearly ripe for technological...