NextSource Materials: Funding, Investors & Team (Aug 2026)
Based in Toronto, Canada, NextSource Materials is a mining company currently focusing on the development of the Molo Graphite Project in southern Madagascar. With complete ownership of this project, NextSource Materials is operating at the Full Feasibility stage. The Molo Graphite Project, being of significant size and superior quality, is recognized as one of the largest and finest flake graphite deposits worldwide.
NextSource Materials has raised $37.9M across 1 funding round on record, the most recent an undisclosed round of $37.9M announced in Jul 2023.
That round is above the $2.2M median round size for Natural Resources companies tracked on FundedIQ over the last two years.
NextSource Materials Company Profile and Key Stats
Latest funding round on record: Jul 2023.
NextSource Materials Funding Rounds
NextSource Materials Founders and Leadership Team
No contact details are on record for this team yet.
NextSource Materials Funding Compared to Other Natural Resources Startups
NextSource Materials' latest round of $37.9M is above the median round in Natural Resources. Medians cover the last 24 months of disclosed rounds.
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NextSource Materials Funding FAQs
What does NextSource Materials do?
Based in Toronto, Canada, NextSource Materials is a mining company currently focusing on the development of the Molo Graphite Project in southern Madagascar. With complete ownership of this project, NextSource Materials is operating at the Full Feasibility stage. The Molo Graphite Project, being of significant size and superior quality, is recognized as one of the largest and finest flake graphite deposits worldwide.
How much funding has NextSource Materials raised?
NextSource Materials has raised $37.9M across 1 round on record. The most recent is an undisclosed round of $37.9M announced in Jul 2023.
When did NextSource Materials last raise funding?
NextSource Materials' most recent funding round on record is an undisclosed round of $37.9M, announced in Jul 2023.
Who founded NextSource Materials?
FundedIQ lists Danniel Stokes (Founder) at NextSource Materials.
Where is NextSource Materials headquartered?
NextSource Materials is based in Toronto, Ontario, Canada.
How many employees does NextSource Materials have?
NextSource Materials is in the 11-50 employee band.
How does NextSource Materials' funding compare to other Natural Resources startups?
NextSource Materials' latest round of $37.9M is above the $2.2M median round size for Natural Resources companies on FundedIQ across 620 tracked companies over the last two years.
About FundedIQ's NextSource Materials Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for NextSource Materials is left off this page rather than filled in.
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