PE Fund Investments
Specialty chemicals sourcing enabler Mstack raises $40-M led by Lightspeed, Alpha Wave
Bengaluru- and Houston, Texas (USA)-based specialty chemicals sourcing startup Mstack has raised USD 40 million (around INR 335 crore) led by Lightspeed Venture Partners and Alpha Wave Global. The round included a debt facility from HSBC Innovation Banking and investments from angel investors.The company plans to use the funds to strengthen its research and development (R&D) efforts, build a leadership team across categories, expand the talent base in the US and scale up operations in the Middle East, South America and Asia.Founded in 2022 by Shreyans Chopra, Mstack runs a custom manufacturing platform that helps enterprise buyers, primarily in North America, source specialty chemicals from its network of capacities in low-cost production countries including India, South Korea, Saudi Arabia, Thailand and Vietnam.
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