Mstack Raises $40 Million in Series A Funding to Expand Presence Globally
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Mstack Raises $40 Million in Series A Funding to Expand Presence Globally

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Bengaluru and Houston-based Mstack, a cross-border speciality chemical manufacturing platform, has secured $40 million in its Series A funding round led by Lightspeed and Alphawave, along with a debt component from HSBC Innovation Banking. This significant investment will enable Mstack to scale its operations across key regions, including the Middle East, Latin America, and Asia, while reinforcing its presence in the United States and other major markets.

Founded in 2022 by Shreyans Chopra, Mstack offers a unique full-stack solution for sourcing specialty chemicals through a reliable and secure supply chain, providing benefits such as preferential pricing, strong quality, reliability, and consistency. The company currently serves four categories: oil and gas, coatings, water treatment, and home and personal care. With the fresh capital, Mstack plans to expand into the agrochemicals and pharmaceuticals sectors, creating new revenue opportunities in the chemical industry.

Key Highlights:

  • Mstack has received a valuation of $90-100 million, indicating significant growth potential.
  • The company will deploy the $40 million in proceeds to expand its operations across the Middle East, Latin America, and Asia, while reinforcing its presence in the United States and other key regions.
  • Within the next 12-18 months, Mstack plans to commercialize proprietary molecules and formulations, opening up new revenue streams in the chemical sector.
  • The company will also hire talents across functions, including R&D, to drive innovation and growth.

Sector Outlook:

The specialty chemicals sector has seen significant investment in 2024, with several prominent companies making strides. Recent funding rounds include:

  • Scimplify secured $9.5 million in a Series A funding round led by Omnivore.
  • Atomgrid, based in Bengaluru, raised $1.2 million in its seed round, supported by Merak Ventures in May.
  • Distil obtained $3.1 million in seed round from Jungle Ventures and India Quotient in June.
  • Covvalent raised $4.3 million in November 2022, led by Nexus Venture Partners.

This investment highlights the growing interest in the specialty chemicals sector, driven by the need for innovative and sustainable solutions.

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