News on Medial

Mstack grabs $40 mn in Series A, to set up R&D labs in India, Middle East

VCCircle · 8m

- Mstack Chemicals has raised $40 million in a Series A funding round to expand its operations globally. - Lightspeed Venture Partners and Alpha Wave Global co-led the funding round, with participation from HSBC Innovation Banking providing a debt facility. - The Houston-based company offers a platform for sourcing specialty chemicals and currently serves the oil and gas, coatings, water treatment, and home and personal care industries. - With the new funding, Mstack plans to enter the agrochemicals and pharmaceuticals sectors and expand its business in the Middle East, Latin America, and Asia. - The company will also establish R&D laboratories in India and the Middle East to drive innovation and commercialize proprietary molecules. - Shreyans Chopra, the founder and CEO of Mstack, previously worked at Lightspeed and Boston Consulting Group before starting the company in 2022.