Oxford-based startup Milvus Advanced, a company focused on creating rare metal alternatives through “modern alchemy,” announced it has raised approximately $6.9 million in a seed funding round led by Hoxton Ventures, with participation from LQD Ventures, Übermorgen, Tuesday Capital, Mark Leslie Enterprises, van Den Bosch Dynasty Fund, Bluebirds, Md One, EQT Foundation, and returning investor Lowercarbon Capital.
Milvus Advanced’s proprietary nanoalloy materials have been independently validated to show superior performance and durability compared with traditional rare-metal components. The company’s stated mission is to recreate the functional properties of Earth’s rarest metals, such as platinum-group metals, using earth-abundant elements, thereby reducing costs, supply-chain risk, and environmental footprint while enabling high performance across the clean energy, transport, electronics, and chemical manufacturing sectors.
The funding will be used to scale commercial production, deepen R&D into new material systems, expand the team, and establish strategic partnerships and manufacturing footprint in the U.S. Milvus has already tested its nanoalloys and membranes in collaboration with global electrolyser OEMs and chemical manufacturers.
Milvus’s business model is business-to-business (B2B), delivering next-generation nanoalloy technologies to sectors where performance, cost, sustainability, and scalability intersect. And the company highlights its ability to replace scarce strategic materials in applications such as hydrogen systems, solar technologies, industrial reactions, and advanced electronics.
KEY QUOTES:
“What if the periodic table did not limit us? Our technology offers a clear path to scale low-carbon solutions without relying on rare materials. This funding fuels our mission to scale production, grow our team, and bring our metal substitutes to industries building the next generation of climate solutions.”
Assia Kasdi, CEO, Milvus Advanced
“Milvus is redefining what’s possible in material performance. Their materials have demonstrated superior results in demanding electrochemical and optoelectronic applications—and they’re doing it with a step-change in scalable production. At a time when industries are constrained by the limits of critical earth metals, Milvus is opening a new frontier that can accelerate clean energy, advanced manufacturing, and next-generation electronics.”
Hussein Kanji, Founder & Partner, Hoxton Ventures
