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§ Private Profile · London, United Kingdom
Digital marketplace and platform for marine fuel procurement, enabling shipping companies to buy bunker fuel and access real-time price data.
London-based BunkerEx, which officially rebranded as Maritime IntelX in January 2025, operates a digital marketplace and technology platform for marine fuel procurement. The company enables shipping firms, shipbrokers, and charterers to bypass traditional broker intermediaries by comparing bunker prices and negotiating directly with physical marine fuel suppliers. Prior to its March 2021 acquisition by parent company USTC, the enterprise raised £400,000 in pre-seed funding to develop its initial digital infrastructure. The software platform currently tracks over 2,000 marine fuel price points daily and provides real-time benchmarking services across 771 global ports. Following the acquisition, the organization integrated its data services with the broader USTC and Bunker Holding corporate ecosystem, while its former chief executive officer later departed to join Onyx Capital Group. The original BunkerEx business was founded in 2017 by Ishaan Hemnani and Willem Muller.
BunkerEx has raised $520K across 1 funding round.
BunkerEx has raised $520K in total across 1 funding round.
BunkerEx is a technology company that operates an online marketplace and automated pricing platform for the marine fuel (bunker) industry. It serves shipping companies, brokers, and fuel suppliers by providing real-time, transparent bunker fuel prices and enabling direct, efficient transactions. The platform integrates with tools like WhatsApp to allow clients to track physical and forward bunker prices with millisecond updates and to optimize bunker port selection for vessel transportation. BunkerEx solves the problem of opacity and inefficiency in traditional bunker broking by offering a transparent, digital alternative that reduces costs and saves time for buyers. Since its founding, the company has gained a reputation as a professional and innovative online bunker broker, accelerating digitalization in shipping logistics[1][2][3][4].
BunkerEx was founded in 2018 by Ishaan Hemnani (CEO) and Willem Muller (CTO) with the vision of combining traditional bunker broking services with cutting-edge technology. The idea emerged from recognizing the lack of transparency and inefficiency in bunker fuel procurement, which traditionally involved opaque broker-supplier negotiations and time-consuming communication via instant messaging. Early traction came from building a marketplace where buyers post requests and verified suppliers compete in live auctions, saving buyers significant time (estimated 40 minutes per deal) and money while maintaining quality assurance through expert support. The company has offices in London and Castelldefels, Spain, and was acquired by United Shipping & Trading Company (USTC) in 2021 to further digitalize the shipping and logistics sectors within the group[1][2][3].
BunkerEx rides the broader trend of digital transformation and transparency in the maritime and logistics industries, sectors traditionally reliant on manual, opaque processes. The timing is critical as shipping companies face increasing pressure to optimize costs, improve operational efficiency, and comply with environmental regulations. Market forces such as volatile fuel prices and the need for real-time data analytics favor platforms like BunkerEx that provide instant, accurate pricing and supplier information. By enabling direct buyer-supplier interactions and integrating with communication tools, BunkerEx influences the ecosystem by setting new standards for transparency and digital efficiency in marine fuel procurement[1][2][3][6].
Looking ahead, BunkerEx is poised to expand its digital footprint within the maritime industry, leveraging its acquisition by USTC to replicate its technology across other products and segments. The ongoing digital transformation in shipping logistics and fuel procurement will likely drive demand for BunkerEx’s platform, especially as data-driven decision-making and automation become more critical. Partnerships with other maritime technology providers, such as OrbitMI, will enhance its data offerings and ecosystem integration. As the industry evolves, BunkerEx’s influence may grow beyond bunker fuel pricing to broader maritime operational efficiencies, cementing its role as a key enabler of innovation and transparency in shipping[1][3][6].
BunkerEx has raised $520K across 1 funding round. Most recently, it raised $520K Seed in August 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2017 | $520K Seed | Fasanara Capital, Seedcamp | Episode 1 Ventures, Passion Capital, Sweet Capital, Paul Forster, Ramesh Haridas, Will Brooks, Will Martin | Announced |
BunkerEx has raised $520K in total across 1 funding round.
BunkerEx's investors include Fasanara Capital, Seedcamp, Episode 1 Ventures, Passion Capital, Sweet Capital, Paul Forster, Ramesh Haridas, Will Brooks, Will Martin.