Milvus Advanced has closed a $6.9 million seed round to scale production of its nanoalloy technology. The investment was 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.
The Oxford-based company develops laboratory-engineered alternatives to rare metals used across clean energy, transport, electronics, and chemical manufacturing. Its proprietary materials have been independently validated for performance and durability. The funding will accelerate commercialization efforts and expand the company's reach into new markets.
Energy and electronics industries depend on rare metals, particularly platinum group metals. These materials are scarce, expensive, and often sourced from regions with political instability. This creates price volatility, supply chain risks, and environmental concerns.
Milvus tackles this problem by recreating the properties of rare metals using earth-abundant elements. The company's nanoalloys deliver comparable or better performance in electrochemical and optoelectronic applications while reducing costs and supply chain dependencies.
The company operates on a B2B model, serving sectors where performance, cost, and sustainability requirements converge. Its technology addresses urgent demand from deep tech industries seeking viable material alternatives.
Milvus focuses on three key sectors. In clean energy and transport, its materials improve efficiency in hydrogen production systems and solar technology. Chemical manufacturing benefits from cleaner, more energy-efficient industrial processes. Electronics applications see improvements in device performance, energy efficiency, and product lifespan.
"What if the periodic table did not limit us?" said Assia Kasdi, CEO of Milvus Advanced. "We are rewriting the elemental rules: 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."
The seed capital will support several growth initiatives. Milvus plans to expand its team and increase production capacity. The company will also enter the U.S. market to establish manufacturing operations and build strategic partnerships. Research and development efforts will continue into new material systems.
Milvus has already tested its nanoalloys and membranes with global electrolyser manufacturers and chemical producers. These partnerships validate the technology's real-world performance and position the company for broader commercial deployment.
Founded in Oxford, Milvus specializes in designing low-cost nanomaterials that substitute for scarce strategic materials. The company uses widely available elements and proprietary engineering processes to create alternatives that match or exceed the performance of traditional rare metals.
The approach opens possibilities for industries constrained by material availability. Rather than accepting the limitations of naturally occurring rare elements, Milvus engineers new materials with desired properties from abundant sources.
"Milvus is redefining what's possible in material performance," said Hussein Kanji, Founder and Partner at Hoxton Ventures. "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."
The diverse investor group brings expertise across venture capital, climate technology, and industrial applications. Lowercarbon Capital's continued participation signals confidence in the company's progress since earlier funding stages. The mix of investors provides both capital and strategic support for Milvus as it moves toward commercial scale.
The funding positions Milvus to address growing demand for material solutions that reduce environmental impact while maintaining high performance standards. As industries transition toward cleaner technologies, alternatives to rare earth metals become increasingly valuable for both economic and strategic reasons.
