Mstack Secures $40M to Expand Speciality Chemical Operations

• Speciality chemical startup Mstack has raised $40M in a Series A round co-led by Lightspeed and Alphawave.
• The funds will be used for expansion in North America, Latin America, the Middle East, and Asia, and to enhance R&D in India and the Middle East.
• Mstack offers a full-stack solution for sourcing speciality chemicals and plans to enter the agrochemicals and pharmaceuticals sectors.
• The company's business is export-oriented with about 20% of its speciality chemical sourcing happening in India.
• Mstack competes with Scimplify and Distil in the global speciality chemicals market, expected to reach $1.04T by 2029.

Source: Inc42