Mstack is a cross-border platform to supply specialty chemicals and intermediates that have secured 40 million USD in its ongoing series A funding round from Lightspeed Ventures and Alphawave. The specialized chemical startup manufactures specialty chemicals.
The funding round saw the participation of several new and existing investors including HSBC Innovation Banking. The startup plans to use these fresh proceeds to scale its operations, expand its services, improve its manufacturing capability, and develop its market presence.
The company intends to use this investment to enter the Middle East, Asia, and Latin American markets. Mstack also wants to strengthen its presence in the United States and other regions. The company supplies and manufactures affordable specialty chemical solutions. The startup offers different chemical manufacturing solutions in industries across various sectors.
This investment shows investor’s trust in Mstack’s market potential and business model. The company plans to commercialize several proprietary molecules and formulations in the next 12 to 18 months while creating new revenue-generating opportunities in the chemical sector. The development came just after the specialty chemical sector saw an increase in investor interest.
The Mumbai-based startup aims to transform the specialty chemical market and open new revenue opportunities. The company provides a full-stack solution for providing specialty chemicals through a reliable supply chain network that ensures security against geopolitical disruptions.
This allows affordable pricing, strong quality, consistency, and reliability. Entrackr reported the development first. The specialty chemical startup currently offers its services in some states of India, and the United States, and aims to expand its services in other countries. The Reuters report showed that the company will have a valuation of around 90 to 100 million USD.
The fresh investment raised from this round will enable the company to expand its services and develop specialized chemical solutions while increasing its performance capability. Mstack provides its solutions in four categories including home or personal care, water treatment, oil and gas, and coatings. The company also plans to offer its solutions in the pharmaceuticals and agrochemical market segment. The firm will also hire some new talents for research and development.
The specialized chemical manufacturer faces competition from other specialty chemical manufacturing companies such as Scimplify, Atomgrid, Chemxpert, Carbanio, and Covvalent. The major competitor of the startup Scimplify recently secured $9.5 million from Omnivore in its series A funding round.
Conclusion :
The distributor and manufacturer of the Specialized chemical, Mstack secured $40 million in its ongoing series A funding round from its existing and new investors. Lightspeed Ventures and Alphawave led the round with the participation of HSBC Innovation Banking. The company offers specialized chemical solutions in four categories: coatings, home and personal care, oil and gas, and water treatment.
The company provides its solutions through a reliable supply chain network to secure geopolitical disruptions. The startup plans to use this investment to enhance its solutions, advance its manufacturing process, and expand its services across the Middle East, Latin America, and Asia. The specialized chemical startup aims to strengthen its market presence in the United States.
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