DexMat today announced it has closed a seed funding round totaling over $5 million, bringing its total equity funding to $10 million. The round was led by non sibi ventures, with participation from Governance Partners, Tailwind Futures, BetterWay, Capital Factory, and other prior and new investors.
DexMat is seeing growing customer demand for Galvorn — a lightweight, carbon-based conductive material — particularly among manufacturers of wire, cable, and related applications who prioritize high performance, durability, and lightweighting. The funding will support early commercial customers, expand the company’s technical and commercial teams, and scale up production to meet near-term demand.
As manufacturers navigate rising complexity and risk across global materials supply chains — especially copper where demand is outpacing supply and climate is further constraining it — Galvorn is gaining traction in targeted applications where traditional conductive materials, including copper, introduce weight, durability, and design constraints.
The Vision and Use of Funds
"We’re seeing clear customer pull, particularly in wire and cable applications, as manufacturers look for conductive materials that are less dense, more durable, and resilient at scale,” said Bryan Guido Hassin, CEO of DexMat. “This funding allows us to meet near-term demand and expand production capabilities in response to evolving supply-chain constraints."
The new capital, paired with $3 million of non-dilutive funding, will support existing customers — as they advance Galvorn in commercial applications — and new customers entering the pipeline each month, as well as expand DexMat’s technical and commercial teams, and advance pilot-scale production to meet near-term demand.
Investor Validation and Company Momentum
“With early stage investing, you’re betting on the team as much as the technology,” says Kent Lucas, founding partner at non sibi ventures. “With DexMat we saw a high-performing team that consistently exceeds targets and a category-defining platform technology addressing a significant market opportunity. We could not be more excited about what we will accomplish together.”
DexMat’s recent momentum includes:
- 2.5x growth in 2025, more than doubling the amount of Galvorn produced and sold in 2024
- Production scale-up, including a 20x increase in capacity and a 96% reduction in production costs since the company’s pre-seed round
- Industry recognition, including being named Trellis 2025 Startup of the Year
“The 2.5x growth in 2025, coupled with the growing pipeline of customers developing applications with Galvorn, is a testament to the technology and the team supporting DexMat customers’ commercialization journey,” added Mr. Lucas.
Dmitri Tsentalovich, PhD, co-founder and CTO at DexMat, emphasized the focus on scale: “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.”
“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,” says Matteo Pasquali, PhD, co-founder and chief science advisor at DexMat. “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. Visionary partners like non sibi demonstrate the unwavering commitment required to create a sustainable new industry.”
About DexMat
DexMat is a U.S.-based company pioneering Galvorn, a lightweight, flexible, and high-performance conductive material. Invented at Rice University by Nobel Prize-winning scientists, Galvorn offers a unique combination of properties that enables new designs and mitigates system-level tradeoffs across demanding applications. Customers in aerospace, defense, automotive, energy, and consumer technology are using Galvorn to develop lighter systems, improve durability, and enable applications not possible with traditional materials. Proudly made in America and shipped globally, Galvorn helps industries do more with less. For more information, visit dexmat.com.
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Mahoney Communications Group
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