DexMat, a Houston, TX-based climate tech startup, raised $3M in Seed funding.
The round was led by Shell Ventures, with participation from Overture Ventures, and Climate Avengers.
The company intends to use the funds to expand operations and its business reach.
Founded to commercialize innovation in the manufacturing of advanced carbon nanomaterials, based on technology originally developed in the Rice University laboratory of co-founder Professor Matteo Pasquali, and now led by new CEO Bryan Guido Hassin, DexMat is a climate tech startup whose flagship product line, GalvornTM, is a family of high-performance carbon materials that have the potential to displace steel, aluminum, copper, carbon fibers, Kevlar, and other CO2-intensive materials. Galvorn is an advanced carbon nanomaterial that can be formed into yarns, cables, tapes, woven fabrics, composites, and three-dimensional structures for use in a wide range of industries and applications, including energy, automotive, aviation, and wearables.
DexMat has seen its revenue from commercial sales of Galvorn products nearly double annually since the company’s inception.
The company’s previous CEO, Dmitri Tsentalovich, Ph.D., steps into the role of CTO, where his background in engineering, carbon, manufacturing, and product development will inform DexMat’s ongoing technology evolution.
FinSMEs