Mstack Chemicals, a chemical startup founded by Indian Americans, has recently secured $40 million in a Series A funding round. The company, based in Houston, Texas, aims to revolutionize the global chemical supply chain by providing a secure platform for sourcing specialty chemicals.
The funding round was co-led by Lightspeed and Alpha Wave Global, with additional support from HSBC Innovation Banking. Mstack plans to use the funds to expand its operations in the Middle East, Latin America, and Asia, as well as strengthen its presence in the United States and other regions.
Since its establishment in 2022, Mstack has made significant progress in the industry and is now focusing on research and development initiatives. The company is currently valued at $90 to $100 million and is looking to further expand its product offerings.
Founder Shreyans Chopra expressed his gratitude for the investor support, emphasizing the company’s commitment to transforming global markets through innovative technology. He has also established offices and a research lab in India, highlighting the country’s role in Mstack’s growth and development.
Mstack currently offers products in various categories such as oil and gas, coatings, water treatment, and home and personal care. With the recent funding, the company is planning to venture into agrochemicals and pharmaceuticals, among other sectors.
Chopra envisions establishing advanced laboratories to drive innovation and create intellectual property, while also providing custom formulations and process innovations through an on-demand platform. His background as a Chartered Accountant turned entrepreneur has earned him recognition on Forbes India’s 30 under 30 list for 2024.
In addition to his entrepreneurial pursuits, Chopra has been involved in initiatives to promote live music and has a track record as an early-stage investor. His dedication to innovation and growth has positioned Mstack Chemicals as a key player in the global chemical industry.
With a strong focus on research and development, Mstack is poised to make significant advancements in the field of specialty chemicals. The company’s strategic expansion plans and commitment to innovation reflect its vision to become a leading global supplier in the industry.