Mstack, a US-based platform for bespoke manufacturing that assists customers worldwide in locating premium specialty chemicals, has secured $40 million to improve the supply chain that has previously been problematic for these chemicals. Together with an all-star group of angel investors, the investment round was co-led by Lightspeed and Alphawave and featured a loan facility from HSBC Innovation Banking.
According to Bejul Somaia, Partner at Lightspeed, more funds must be allocated to research and development in order to expand the supply of these compounds, as demand for them is rising quickly.
The need to diversify chemical supplies is growing as companies want to expand into new markets in response to the China+1 strategy and the continuing losses and rising prices faced by Europe’s largest chemical companies. Mstack wants to employ its freshly invested money to expand across the Middle East, Latin America, and Asia, United States and other critical markets.
Mstack’s founder, Shreyans Chopra, said that this financing reinforces investor trust in their vision and technology to alter global markets. It makes it possible for Mstack to increase their R&D and geographic reach.
The company 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. 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.
Co-founder and partner at Alpha Wave Global, Navroz D. Udwadia, stated that the team is excited to collaborate with them to provide clients with efficient, effective solutions that will increase their return on investment.
Mstack is expanding its reach into agrochemicals and pharmaceuticals, among other industries, with this round of investment. The organisation is currently putting more of an emphasis on growing its pool of talent in the US, developing a strong team of leaders in all areas, and increasing its investment in research and development (R&D).
