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News & Analysis

Andrew ‘Twiggy’ Forrest’s made two more tech investments

- July 29, 2020 < 1 MIN READ
Fortescue Metals Group founder and chairman Andrew Forrest
Western Australian mining billionaire Andrew “Twiggy” Forrest has made two more startup investments through his private family investment fund Tattarang.

Earlier this month, Forrest took an undisclosed majority stake in fintech Azupay, the first company on the New Payments Platform.

Over the last fortnight Tattarang has backed GLX Digital, a WA startup that developed the first end-to-end trading software solution for global commodity markets, as well as NodeOne, a local fixed wireless and NBN provider.

Tattarang joined GLX Digital’s Series A funding round alongside global energy giants 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 said they shared the Perth-based company’s vision to digitise commodity markets globally

“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,”

Founder and CEO Damien Criddle said GLX Digital has more than 70 of the largest energy and trading companies signed to its GLX Connect platform.

Meanwhile, NodeOne, founded in 2009, is WA’s largest fixed wireless provider, with network coverage to more than two million people.

Hartman said the telco sector has been dominated by the NBN so they’re investing in a disruptive service.

 NodeOne CEO Richard Whiting, said Tattarang’s investment will allow to develop its network and expand into the WA business market, offering “big business speeds at small business prices”.