Alchemy Secures $6M to Scale Global Defence and Automotive Innovations

Alchemy, a Kitchener-based advanced materials and nanotechnology company, has raised $6 million in funding from NameSilo Technologies, Pathfinder Asset Management, Pembroke Management, and other investors. The financing will accelerate the development and commercialization of Alchemy’s defence and automotive technologies, expand its Canadian manufacturing footprint, and support international partnerships with allied nations.

Alchemy’s Defence Business Unit is centred on Crypsis Class, the company’s nanoparticle-based thermal camouflage technology. Designed to reduce heat signatures and provide concealment in the field, Crypsis Class is being co-developed into textile applications through a newly signed partnership with a major military garment manufacturer. The company is advancing discussions with the Canadian Department of National Defence and expanding internationally with NATO and Five Eyes partners. Alchemy plans to integrate Crypsis Class into textiles, paints, films, and coatings, unlocking broader applications across defence and aerospace.

“Modern defence requires not only more resilient materials, but also smarter ways of protecting people and equipment,” said Khanjan Desai, CEO and co-founder of Alchemy. “Crypsis Class represents a breakthrough in thermal camouflage, and with this investment, we can accelerate development and deliver at scale to Canada and its allies.”

Alongside its defence advances, Alchemy continues to grow its Automotive Business Unit, anchored by ExoShield ULTRA, a next-generation windshield protection film. The company is broadening ExoShield ULTRA’s availability across more vehicle types and international markets, while extending applications to aerospace. Alchemy is already working with partners to protect exposed windows on select airplanes and helicopters. To meet growing demand, new manufacturing technology is being brought in-house at its Kitchener facility, reinforcing its commitment to Canadian production and innovation.

“With automotive and defence both undergoing rapid transformation, we see enormous potential for Alchemy’s technologies across industries,” added Desai. “This investment gives us the resources to scale faster, expand internationally, and grow our team to meet the opportunity ahead.”