Mstack secures $40M from Lightspeed and Alphawave to revolutionize global specialty chemical manufacturing

Mstack, a tech startup that focuses on specialty chemical manufacturing, has secured $40 million in a Series A funding round co-led by Lightspeed and Alphawave. The round also includes a debt facility from HSBC Innovation Banking and contributions from angel investors.

With this new capital, the U.S.-based Mstack plans to expand its reach across the Middle East, Latin America, and Asia, while continuing to grow its presence in the United States and other key markets.

The COVID-19 pandemic highlighted two key realities for manufacturing: global supply chains are the new normal, and chemical suppliers play a crucial role in keeping those supply chains running. As Europe’s chemical industry grapples with losses and high costs, and the China+1 strategy drives companies to explore new markets, the need for diversified chemical sources is becoming increasingly clear. This shifting landscape inspired Mstack founder Shreyans Chopra to create a cross-border specialty chemicals brand.

Founded in 2022, Mstack helps businesses source high-quality specialty chemicals, aiming to fix the long-standing inefficiencies in the supply chain. With a strong network in low-cost, high-quality regions like India, the Middle East, and Asia, Mstack provides mid-to-large enterprises with a full-stack solution for sourcing specialty chemicals, ensuring a reliable and secure supply chain that can withstand geopolitical challenges. This allows the company to offer competitive pricing without compromising on quality or reliability.

Bejul Somaia, Partner at Lightspeed, remarked on the funding: “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.”

Mstack’s platform integrates every aspect of the process—allowing buyers to source, test, ship, and track their specialty chemicals all in one place. This comprehensive control helps the company meet its promise of reliable and timely delivery. Currently, Mstack’s offerings span four sectors: oil and gas, coatings, water treatment, and home and personal care. With this latest funding, the company is expanding into agrochemicals and pharmaceuticals.

Having established a strong presence in the cross-border chemicals supply chain, Mstack is now focused on expanding its U.S. talent pool, strengthening leadership, and doubling down on research and development.

“This funding validates our vision and tech-driven approach to transforming global markets,” said Shreyans Chopra, Mstack’s founder. “It will fuel our geographic expansion and deepen our R&D efforts. We’re continually innovating to meet the changing needs of our customers. Our team in India is ready to commercialize several new chemicals, and we’re planning to set up advanced labs to drive innovation, IP creation, and custom formulations through our platform.”

Navroz D. Udwadia, Co-Founder and Partner at Alpha Wave Global, added: “We’re thrilled to support Mstack as they play a pivotal role in reshaping the global chemical supply chain. This round of funding will help them enhance their R&D efforts and co-create new products with their vendors. We’re excited to work with the team to deliver cost-effective solutions and boost ROI for their customers.”

With its tech-first approach, growing research capabilities, and plans for further expansion, Mstack is well-positioned to transform the global specialty chemical manufacturing landscape.

Mstack Team