Funding round
MatX Seed
MatX, which works in AI hardware design and manufacturing in Mountain View, raised $25M in a Seed round announced on 1 Mar 2024. 2 firms took part. It is MatX's first venture round on record.
$25M
Amount raised
Not disclosed
Post-money valuation
2
Investors
no lead named
Valuation
What this round says about the price
MatX did not disclose a valuation in this round. It is 4.1% of the $605M MatX has raised in the venture rounds on record. MatX raised again 8 months later: a Series A round of $80M in Nov 2024, at $300M post-money.
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- backs 82 venture-backed companies new investor
- SV Angel backs 293 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
59 Seed rounds in Electronical Components Manufacturing within a year either side disclosed an amount; the median was $4.1M, and this round was 6.1 times the median. The closest in time, other companies' Seed rounds in Electronical Components Manufacturing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electronical Components Manufacturing | 7 Mar 2024 | $16M | not disclosed | Eclipse |
| Electronical Components Manufacturing | 20 Mar 2024 | $5.4M | not disclosed | Union Square Ventures and Energy Revolution Ventures |
| Electronical Components Manufacturing | 15 Mar 2024 | $1.1M | not disclosed | not named |
| Electronical Components Manufacturing | 15 Apr 2024 | $4.0M | not disclosed | not named |
| Electronical Components Manufacturing | 18 Apr 2024 | $3.0M | not disclosed | Equity Gap |
| SEMRON Electronical Components Manufacturing | 30 Jan 2024 | $7.9M | not disclosed | Join Capital |
| Electronical Components Manufacturing | 24 Jan 2024 | $2.6M | not disclosed | High-Tech Gründerfonds and OCCIDENT |
| Electronical Components Manufacturing | 22 May 2024 | $1.1M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did MatX raise in its Seed round?
MatX raised $25M in its Seed round, announced in Mar 2024.
Which investors took part in MatX's Seed round?
Homebrew and SV Angel.
What was MatX's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Electronical Components Manufacturing?
59 Seed rounds in Electronical Components Manufacturing within a year either side disclosed an amount; the median was $4.1M, and this round was 6.1 times the median.
Did MatX raise again after this round?
Yes: a Series A round in Nov 2024 of $80M at $300M post-money.