Funding round
Material Exchange Series A
Material Exchange, which works in AI-Driven material sourcing solutions in Stockholm, raised $27M in a Series A round announced on 14 Apr 2022, led by Molten Ventures. 6 firms took part. It is Material Exchange's second venture round on record; the one before was a Seed in Nov 2019.
$27M
Amount raised
25,000,000 EUR converted
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Material Exchange did not disclose a valuation in this round. It came 29 months after Material Exchange's Seed. It is 93% of the $29M Material Exchange has raised in the venture rounds on record. No later venture round is on record for Material Exchange.
Material Exchange's funding rounds
Material Exchange has 2 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 19 Nov 2019, led by Inventure $2.0M
- Other not a venture round 31 Dec 2020, led by Norrsken VC $7.4M
- Series A this round 14 Apr 2022, led by Molten Ventures $27M
Investors
Who put money in
Molten Ventures led the round with 5 other firms.
Lead investor
- backs 66 venture-backed companies new investor
Also in the round
- backs 182 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- backs 60 venture-backed companies new investor
- Day One Capital backs 22 venture-backed companies new investor
- backs 8 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,917 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 2.2 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Apr 2022 | $120M | not disclosed | Dream Capital |
| Adept Tech Companies | 1 Apr 2022 | $65M | not disclosed | not named |
| Tech Companies | 21 Apr 2022 | $50M | not disclosed | Sprints |
| Tech Companies | 5 Apr 2022 | $46M | not disclosed | PayU and Prosus |
| d-Matrix Tech Companies | 1 Apr 2022 | $44M | not disclosed | Playground and M12 |
| Tech Companies | 20 Apr 2022 | $40M | not disclosed | QED Investors |
| Tech Companies | 26 Apr 2022 | $35M | not disclosed | GV |
| Tech Companies | 20 Apr 2022 | $34M | not disclosed | Andreessen Horowitz |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Material Exchange raise in its Series A round?
Material Exchange raised $27M in its Series A round, announced in Apr 2022.
Who led Material Exchange's Series A round?
Molten Ventures led it, with Partech, Norrsken VC, Inventure, Day One Capital and Lyra Ventures.
What was Material Exchange's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,917 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $13M, and this round was 2.2 times the median.