DexMat announced it closed a seed funding round totaling over $5 million to scale Galvorn, its lightweight, flexible, carbon-based conductive material positioned as a high-performance alternative to copper. The Houston-based company said the round brings its total equity funding to $10 million and was led by non sibi ventures, with participation from Governance Partners, Tailwind Futures, BetterWay, Capital Factory, and other prior and new investors.
The company said it is seeing growing customer demand for Galvorn, particularly among wire, cable, and related manufacturers seeking durability, lightweighting, and high-performance conductivity. DexMat said the new funding will be used to support early commercial customers, expand technical and commercial teams, and scale production to meet near-term demand.
DexMat framed Galvorn’s adoption against rising complexity in global materials supply chains and growing constraints in copper availability, saying the material is gaining traction in targeted use cases where copper and other traditional conductive materials create weight, durability, and design limitations. The company added that the new capital is paired with $3 million of non-dilutive funding, which it said will support existing customers moving Galvorn into commercial applications, bring new customers through its pipeline, expand teams, and advance pilot-scale production.
DexMat also highlighted what it described as accelerating operational momentum, including 2.5x growth in 2025, a 20x increase in production capacity, and a 96% reduction in production costs since its pre-seed round. The company said it has customers across aerospace, defense, automotive, energy, and consumer technology using Galvorn to develop lighter systems, improve durability, and enable designs it says are not possible with traditional materials.
KEY QUOTES:
“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. We could not be more excited about what we will accomplish together.”
“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.”
Kent Lucas, Founding Partner at non sibi ventures
“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.”
Dmitri Tsentalovich, PhD, Co-Founder and CTO at DexMat
“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. Visionary partners like non sibi demonstrate the unwavering commitment required to create a sustainable new industry.”
Matteo Pasquali, PhD, Co-Founder and Chief Science Advisor at DexMat
