En una ronda de financiamiento liderada por Lightspeed Venture Partners y AlphaWave Global, la startup de productos químicos especializados Amstac ha recaudado $40 millones (alrededor de 335 millones de rupias).

Amstac, based in Houston and Bengaluru, plans to use the funds to support research and development activities, build a leadership team across all divisions of the company, nurture talent within the company in the US, and scale up operations in the Middle East, South America, and Asia.

Emstac was founded by Shreyans Chopra in 2022. Amstac is a B2B company for sourcing speciality chemicals. Amstac serves as a custom manufacturing platform that helps deliver speciality chemicals to countries with low-cost manufacturing capabilities, including North America, India, South Korea, Saudi Arabia, Thailand, and Vietnam.

The company offers products in categories such as oil, gas, coatings, water treatment, home and personal care. With the new funding, Amstac plans to expand into agrochemicals and pharmaceuticals.

Investor interest in the speciality chemicals sector has increased due to the increasing demand for chemicals across various industries.