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Specialty chemicals marketplace Mstack bags $40 million funding

Business TodayBusiness Today · 10m ago
Specialty chemicals marketplace Mstack bags $40 million funding
Medial

- Manufacturing platform Mstack secures $40 million in funding from investors including Lightspeed, Alphawave, and HSBC Innovation Banking. - Mstack aims to disrupt the specialty chemicals supply chain by providing a reliable and secure solution for global buyers. - The funding will support Mstack's expansion into the Middle East, Latin America, and Asia, while strengthening its presence in the United States and other key regions. - Mstack plans to commercialize multiple chemicals through its R&D team in India and establish advanced labs for innovation and custom formulations. - The company leverages its network of approved specialty chemical capacities in low-cost regions like India and the Middle East to offer preferential pricing without compromising on quality. - Mstack's platform allows buyers to source, test, ship, deliver, and track specialty chemicals in one place, currently serving industries such as oil and gas, coatings, water treatment, and home/personal care.

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Specialty chemical startup Mstack raises $40 million from Lightspeed, Alpha Wave, others

Economic TimesEconomic Times · 10m ago
Specialty chemical startup Mstack raises $40 million from Lightspeed, Alpha Wave, others
Medial

- Specialty chemical startup Mstack secures $40 million in funding round led by Lightspeed Venture Partners and Alpha Wave Global - Funding includes a debt facility from HSBC Innovation Banking and participation from other angel investors - Mstack plans to utilize the funds for strengthening R&D efforts, building a leadership team, expanding talent base, and scaling operations in Middle East, South America, and Asia - The company operates a custom manufacturing platform to help buyers source specialty chemicals from a tech-enabled network of capacities in low-cost production countries - Mstack offers a wide range of specialty chemicals in sectors such as oil and gas, coatings, water treatment, home and personal care, with plans to expand into agrochemicals and pharmaceuticals - The specialty chemicals sector is attracting investor interest due to the increasing demand for chemical solutions across various industries.

ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week

Economic TimesEconomic Times · 10m ago
ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
Medial

- Startups raised $77 million between September 28 and October 4, a 54.5% decrease from the same period last year. - This week, startups secured funding through 14 rounds, compared to 44 rounds in the year-ago period. - MStack, a specialty chemicals startup, raised $40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global. - Basic Home Loan, a fintech startup, raised $10.6 million in a series B funding round led by Bertelsmann India Investments. - Troo Good, a snack brand, raised $8.6 million in a funding round led by Oaks Asset Management. - Str8bat, a sports technology startup, raised $3.5 million in a series A funding round led by Exfinity Venture Partners.

Specialty chemicals startup Scimplify raises $40 Mn in Series B round

EntrackrEntrackr · 5m ago
Specialty chemicals startup Scimplify raises $40 Mn in Series B round
Medial

Scimplify, a platform for sourcing and manufacturing specialty chemicals, has raised $40 million in a Series B funding round co-led by Accel and Bertelsmann India Investments, with participation from UMI and existing investors, including Omnivore and 3one4 Capital. This funding brings Scimplify’s total capital raised to $54 million, following its seed and Series A rounds. The fresh capital will accelerate Scimplify’s export expansion beyond the 16 countries it currently serves while strengthening its presence in key industries such as life sciences, crop sciences, and industrial chemicals, the company said in a press release. Many manufacturers struggle with sourcing raw materials, navigating regulatory requirements, and scaling up production to meet global demand. Scimplify addresses these challenges by offering an end-to-end manufacturing ecosystem, combining in-house scientific expertise with a network of over 200 specialized manufacturing plants across cost-efficient regions in India. Founded by Salil Srivastava and Sachin Santhosh, Scimplify is a B2B fulfillment platform that operates across the product life cycle, from contract research to commercial chemical manufacturing, serving industries such as pharmaceuticals, personal care, and agrochemicals. The company’s plug-and-play model enables global buyers to leverage India’s cost-efficient production capabilities without the burden of setting up dedicated manufacturing facilities. “As global supply chains undergo rapid shifts, customers are actively seeking reliable partners who can provide enterprise-grade R&D and comprehensive solutions for their specialty chemical manufacturing needs. Over the past year and a half, we have built great momentum, and with Accel joining this partnership, we remain steadfast in building a global R&D-led manufacturing company that brings a new-age approach to the modern customer,” said Srivastava. The Bengaluru-based company serves major markets, including the US, Europe, and Japan. Scimplify competes with Mstack, Atomgrid, Covvalent, Distil, and Elchemy.

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