Lightspeed and Alpha Wave Lead USD 40 Mn Investment in Mstack to Transform Specialty Chemical Sourcing With the raised funds, Mstack aims to boost R&D, expand global operations, scale leadership across sectors, and grow its talent base in the US, Middle East, South America, and Asia.
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Mstack, a Houston and Bengaluru-based specialty chemical startup, has secured USD 40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global.
The round also saw participation from HSBC Innovation Banking through a debt facility, along with contributions from other angel investors.
This strategic investment positions Mstack to enhance its research and development (R&D) efforts, expand its global operations, scale its leadership team across various sectors, and expand its talent base in the US and scale up operations in the Middle East, South America, and Asia.
Shreyans Chopra, Founder at Mstack, expressed excitement about the growth opportunities ahead, stating, "This funding affirms investor confidence in our vision and technology to transform global markets. We'll continue innovating to meet our customers' evolving needs."
Founded in 2022 by Shreyans Chopra, Mstack has created a custom manufacturing platform that enables mid-to-large enterprise buyers, primarily in North America, to source specialty chemicals.
Its tech-enabled network connects clients to low-cost production hubs in countries like India, South Korea, Saudi Arabia, Thailand, and Vietnam.
Mstack's integrated platform provides buyers with sourcing, testing, and delivery solutions in categories such as oil and gas, coatings, and water treatment, among others.
The new capital will also drive the development of advanced labs and help Mstack establish a strong presence in agrochemicals and pharmaceuticals.
Navroz D Udwadia, Co-founder at Alpha Wave Global, added, "Mstack plays an essential role in shaping the global chemical supply chain. This funding round empowers the company to strengthen its R&D and co-create new products with their vendors."
"Geopolitical dynamics pose risks for supply chain disruptions in the global specialty chemicals market," said Bejul Somaia, partner at Lightspeed. "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."
