Mstack, a US-based speciality chemical manufacturing platform, has raised $40 million in its Series A round funding round co-led by Lightspeed and Alpha Wave Incubation.
The round also saw participation from HSBC Innovation Banking through a debt facility, along with contributions from other angel investors.
The fresh capital raised will be used to expand its footprint across the Middle East, Latin America and Asia while continuing to strengthen its presence in the United States and other geographies.
Bejul Somaia, Partner at Lightspeed, added, “Geopolitical dynamics pose risks for supply chain disruptions in the global specialty chemicals market. With demand for these chemicals growing rapidly, there is a need to increase R&D investments and unlock new pockets of supply. As the first institutional investor in Mstack, we believe that the company has tremendous potential to lead this transformation. The new round of funding will enable them to unlock the full potential of their tech-driven platform and undertake cutting-edge research, offering high-quality products to customers across the world.”
Shreyans Chopra, Founder at Mstack, commented, “This new funding affirms investor confidence in our vision and technology to transform global markets. It enables us to expand geographically and intensify our R&D efforts. We’ll continue innovating to meet our customers’ evolving needs. Our R&D team in India is poised to commercialize multiple chemicals soon. Future plans include establishing advanced labs to drive innovation and IP creation, while offering custom formulations and process innovation through our on-demand platform.”
Navroz D. Udwadia, Co-Founder and Partner at Alpha Wave Global, said, “We are very excited to partner with Mstack as they play an important role in shaping the global chemical supply chain. This round enables Mstack to strengthen its R&D capabilities in co-creating new products with their vendors. We look forward to working with the team in delivering effective, cost-efficient solutions to the customers, driving incremental ROI for them.”
Mstack was founded in 2022 by Shreyans Chopra, whose decision to launch a cross-border brand in specialty chemicals was inspired by the rapid growth in the global specialty chemicals market. Through its well-established network of approved specialty chemical capacities in low cost, high quality regions – like India, the Middle East, and Asia – Mstack offers mid-to-large scale enterprises a full-stack solution for sourcing specialty chemicals through a reliable supply chain that is secure against geopolitical disruptions. This allows the company to serve price-sensitive buyers across the world with preferential pricing while maintaining a strong commitment to quality, reliability, and consistency.
Notably, the company has codified its entire operation into a single platform, allowing buyers to source, test, ship, deliver, and track all of their specialty chemicals in one place.
The company currently offers products in four categories: oil and gas, coatings, water treatment, and home and personal care. With this round of funding, Mstack is making inroads into agrochemicals and pharmaceuticals, among other segments.
