I am beyond elated to share that DexMat has closed an oversubscribed Seed funding round, bringing our total equity funding to $10 million! This milestone represents far more than capital—it validates our exponential trajectory, recognizes our incredible team, and accelerates our mission to drive a materials revolution that the energy transition desperately needs.
Taking the Exponential View
When I became DexMat’s CEO three years ago, we faced a fundamental choice: take the linear view that everyone expected, or dare to see Galvorn’s exponential potential. Thanks to investors, advisors, customers, and bold teammates—we chose exponential.
And boy, has that choice paid off.
Since I joined as CEO, our progress has been nothing short of exponential:
- Built an incredible team of mission-aligned, values-driven, brilliant, hard-working, and kind DexMates
- Scaled up production capacity 20x (with 200x coming soon!)
- Reduced production cost 96% to parity with aerospace-grade copper (with orders of magnitude more cost reduction on our near-term roadmap)
- Grew sales 2.5x year-over-year in 2025 (on track for even more rapid growth this year)
- Secured our first multi-year offtake agreement (with several more to be announced soon!)
As Kent Lucas, Founding Partner at non sibi ventures, put it: “With early stage investing, you’re betting on the team as much as the technology. With DexMat we saw a high-performing team that consistently exceeds targets and a category-defining platform technology addressing a significant market opportunity.”
Why This Round Matters
The global copper market is facing a perfect storm. Demand is outpacing supply, climate impacts are constraining production, and the energy transition requires exponentially more conductive materials than we currently produce. Traditional solutions—mining more copper, recycling harder, or hoping for substitutes—simply won’t cut it at the scale and speed we need.
That’s where Galvorn enters the picture.
Manufacturers across wire, cable, aerospace, defense, automotive, energy, and e-textiles are increasingly encountering applications where traditional materials—especially copper—introduce unacceptable tradeoffs. They need materials that are lightweight, flexible, durable, and conductive. They need materials that enable designs previously impossible. They need Galvorn.
This funding round—over $5 million in equity plus $3 million in non-dilutive funding—allows us to meet that growing customer pull. We’ll support existing customers as they advance Galvorn in commercial applications, onboard the new customers entering our pipeline each month, expand our technical and commercial teams, and advance pilot-scale production to meet near-term demand.
It Takes a Village
My co-founder Matteo Pasquali likes to say: “It’s been incredible to be part of Galvorn’s evolution from a conversation on a couch with Nobel laureate Richard Smalley to a product now gaining market traction. This inflection point is the result of over 25 years of concerted R&D. Achieving our mission to reduce reliance on energy-intensive metal production will take a village.”
He’s absolutely right. And I am so incredibly grateful for our fellow villagers:
Our brilliant team of DexMates, including my co-founder Dmitri Tsentalovich, who keeps reminding us: “We consistently hear the same message from customers: the material performs really well, and they need more of it at a lower cost. This round supports the production scale-up and cost reductions required to move Galvorn into broader commercial use.”
Our amazing investors and advisors—both prior and new—including our lead investor, non sibi ventures, along with Governance Partners, Tailwind Futures, BetterWay, and Capital Factory.
Our catalytic partners including Rice University (where Galvorn was invented), Enduring Planet, Planetary Scale, and Third Derivative (which always remains close to my heart).
Our growing customer base, who are developing applications across 90% of our $300+ billion target market and teaching us every day what the world needs from next-generation materials.
There are literally too many people to thank here, but I am so incredibly full of gratitude to you all.
No Energy Transition Without a Materials Transition
When I was building Third Derivative—which has now helped mobilize over $2 billion into more than 200 climatetech startups—I learned firsthand that there can be no energy transition (or dominance!) without a materials transition.
Everyone’s climate roadmap includes maintaining a reliance on old, inferior materials like steel, aluminum, and copper that are really hard and expensive to decarbonize. The International Energy Agency projects that demand for critical minerals could increase by 400-600% by 2040 to meet climate goals. We simply cannot mine, refine, and recycle our way out of this challenge using millennia-old materials and processes.
But here’s the thing: DexMat isn’t trying to make those materials green—there’s only so green you can ever make them. We’re making them obsolete.
Galvorn is many times stronger than steel, lighter than aluminum and carbon fiber, as conductive as copper, and produced not by combusting carbon but by capturing it. It’s a carbon-negative material that enables the energy transition while simultaneously embodying it.
What Gets Us Out of Bed Every Morning
Two months ago, we were named Trellis 2025 Startup of the Year—an honor that reflects not just our technological innovation, but our commitment to driving industrial-scale change. Recognition like this is gratifying, but what really gets us out of bed is knowing that:
- Power cable manufacturers are testing Galvorn to develop stronger, lighter conductive cables that can help us enter the $80 billion power transmission market
- Textile mills are developing antistatic fabrics where just 4 pounds of Galvorn displaces 1,000 pounds of incumbent materials
- Aerospace companies are exploring continuous structural health monitoring sensors for airplane wings
- Automotive suppliers are creating flexible thermoelectric devices for waste heat recovery
These aren’t science experiments anymore. These are commercial applications in development, with letters of intent, offtake agreements, and real demand.
This Is Just the Beginning
I learned from my time at Third Derivative that daring to do things differently—to innovate new models rather than execute familiar, known patterns—is essential for climate solutions. Familiar patterns are what got us into this crisis in the first place.
At DexMat, we’re not just innovating a new material; we’re catalyzing a materials revolution. We’re building the carbon materials value chain from the ground up. We’re proving that better properties and lower costs—the traditional mix of conditions that lead to materials revolutions—are achievable with Galvorn.
Our exponential learning rate is steeper than solar and batteries. We’ve already scaled production 3,000x and reduced cost 99.6%, moving from cost parity with exotic materials, like platinum, to parity with specialty materials like carbon fiber. When we scale another 3,000x, we’ll have lower cost than even commodity materials like steel, aluminum, and copper.
The sky is literally the limit—as long as we maintain the exponential view.
Ad Astra
This DexMat seed funding marks an inflection point, but it’s just the beginning. Our rocket ship is lifting off the launch pad, and we’re accelerating toward a future where Galvorn enables designs previously impossible, where the materials we use to build our world also heal our planet, where the energy transition succeeds because we’ve solved the materials bottleneck.
If you’re excited about this journey, there are several ways to join us:
- Follow our progress: Subscribe to DexMat’s blog and connect with us on LinkedIn
- Get your hands on Galvorn: Order samples to explore what Galvorn can do for your applications
- Partner with us: Contact our team to discuss how Galvorn can solve your materials challenges
- Join the team: Check out our careers page to see how you can become a DexMate
To everyone who has supported us on this journey so far—thank you. To those joining us now—welcome aboard. To those watching from the sidelines—we’re just getting started.
It is such a privilege to be working at the forefront of the materials transition our world desperately needs.
Ad astra! 🚀
Bryan Guido Hassin is the CEO of DexMat and the founder of Third Derivative. He writes about climatetech, exponential technologies, and the materials revolution at greenknig.ht.