Mstack, a cross-border platform for specialty chemical manufacturing, has secured $40 million in its Series A funding round, which was jointly co-led by Lightspeed and Alphawave. Additionally, HSBC Innovation Banking has provided a debt contribution.
The proceeds will be used to expand its operations in the Middle East, Latin America, and Asia, as well as to bolster its presence in the United States and other critical regions.
MStack intends to generate new revenue opportunities in the chemical sector by commercializing a number of proprietary molecules and formulations within the next 12-18 months.
the Bengaluru and Houston-based company will be valued between $90-100 million, according to a report by Reuters.
Mstack, provides a comprehensive solution for the procurement of specialty chemicals through a dependable supply chain that is resilient to geopolitical disruptions. This results in preferential pricing, consistent quality, reliability, and dependability, as stated in the release.
The company currently provides products in four categories: oil and gas, coatings, water treatment, and residential and personal care.
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Now, Mstack is preparing to expand its operations into the pharmaceutical and agrochemical sectors. The organization will also recruit professionals from various departments, including research and development, with additional funds.
About Mstack
Founded in 2022 by Shreyans Chopra, Mstack is a specialist of tailor-made, high-demand specialty chemicals and intermediates that cater to the dynamic needs of various industries.
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