Mstack, a cross-border specialty chemical manufacturing platform, has successfully raised $40 million in its Series A funding round, co-led by Lightspeed and Alphawave, alongside a debt investment from HSBC Innovation Banking.

The newly acquired funds will be utilized to expand operations in the Middle East, Latin America, and Asia, while also strengthening its presence in the United States and other key regions. Mstack aims to commercialize several proprietary molecules and formulations within the next 12-18 months, creating new revenue opportunities in the specialty chemical sector.

According to a Reuters report, Mstack’s valuation is expected to be in the range of $90-100 million. Founded in 2022 by Shreyans Chopra, the Bengaluru and Houston-based company offers a comprehensive solution for sourcing specialty chemicals through a secure supply chain that mitigates geopolitical risks. This model allows Mstack to provide preferential pricing and maintain strong quality, reliability, and consistency.

Currently, Mstack’s product offerings span four categories: oil and gas, coatings, water treatment, and home and personal care. The company is also looking to expand into agrochemicals and pharmaceuticals. With the fresh capital, Mstack plans to hire talent across various functions, including research and development.

The specialty chemicals sector has attracted significant investment in 2024, with several notable companies making strides. For instance, Scimplify recently raised $9.5 million in a Series A funding round led by Omnivore, while Atomgrid secured $1.2 million in its seed round from Merak Ventures in May. Other companies like Distil and Covvalent have also made headlines with their recent fundraising efforts.

 

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