Mstack, a US-based custom manufacturing platform that helps global buyers source high-quality specialty chemicals, has raised $40M to double down on its mission to disrupt a historically flawed supply chain for specialty chemicals.

The company’s $40 million Series A round was co-led by Lightspeed and Alpha Wave and included a debt facility from HSBC Innovation Banking as well as an all-star lineup of angel investors.

MStack will deploy the freshly infused capital to expand its footprint across the Middle East, Latin America and Asia, while continuing to strengthen its presence in the United States and other geographies.

Bejul Somaia, Partner at Lightspeed, added: “Geopolitical dynamics pose risks for supply chain disruptions in the global specialty chemicals market. 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. The new round of funding will enable them to unlock the full potential of their tech-driven platform and undertake cutting-edge research, offering high quality products to customers across the world.”

Shreyans Chopra, Founder, Mstack, commented: “This new funding affirms investor confidence in our vision and technology to transform global markets. It enables us to expand geographically and intensify our R&D efforts. We'll continue innovating to meet our customers' evolving needs. Our R&D team in India is poised to commercialize multiple chemicals soon. Future plans include establishing advanced labs to drive innovation and IP creation, while offering custom formulations and process innovation through our on-demand platform.”

Navroz D. Udwadia, Co-Founder and Partner at Alpha Wave Global, said:  “We are very excited to partner with Mstack as they play an important role in shaping the global chemical supply chain. This round enables Mstack to strengthen its R&D capabilities in co-creating new products with their vendors. We look forward to working with the team in delivering effective, cost efficient solutions to the customers, driving incremental ROI for them.”

Mstack was founded in 2022 to launch a cross-border brand in specialty chemicals.