Cambium Revenue, Valuation, Funding & Investors

Cambium is valued at $410M as of January 2026, a 1.4x multiple on its last reported $298M revenue.

Last Cambium valuation

$410M

Series B · Jan 2026

Last Cambium funding round

$100M

Series B · Jan 2026

Cambium revenue

$298M

Series B · Jan 2026

Key investors in Cambium

  • 8VC
  • Gaingels
  • MVP Ventures
  • GSBackers
  • Veteran Ventures Capital
  • Lockheed Martin Ventures

Cambium Overview

About Cambium

Cambium is a Boston-based deep tech company engineering biomaterials from fungal mycelium for defense armor, aerospace components, and renewable energy panels. Founded in 2020, it combines synthetic biology with automation to produce leather alternatives stronger than Kevlar. Cambium supplies prototypes to DARPA and NASA programs.


Founded

2019

HQ

United StatesMojave, CA

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Product sales

Revenue

$298M (Jan 2026)

Valuation

$410M (Jan 2026)

Cambium Valuation

Cambium is currently valued at $410M, based on its Series B in January 2026.

The $100M round was led by 8VC, with participation from Veteran Ventures Capital, J17 Capital, JACS Capital, MVP Ventures, Inevitable Ventures and 6 other investors.

Cambium valuation by funding round

Cambium valuation by funding round
DateStageValuationRevenue Multiple
Jan 2026Series B$410M1.4x

Cambium Revenue

Cambium's latest recorded revenue is $298M, as of its Series B in January 2026. At a $410M valuation, that implies a 1.4x revenue multiple.

Cambium revenue by funding round

Cambium revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2026$298M$410M1.4xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Cambium Funding History

Cambium has raised a total of $127M across 3 funding rounds.

Cambium's first fundraising round was a $8M seed round in September 2021. The most recent completed round was a $100M Series B in January 2026.

Cambium funding rounds

Cambium funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2026Series B8VC (lead); Veteran Ventures Capital; J17 Capital; JACS Capital; MVP Ventures; Inevitable Ventures; Gaingels; SignalRank; GSBackers; Vanderbilt University; Jackson Moses; Lockheed Martin Ventures$100M$410MCambium, headquartered in El Segundo, California, pioneers advanced materials for defense, aerospace, energy, marine, motorsport, and other high-performance sectors. The company integrates AI, chemical informatics, and high-performance computing to design new monomers and polymers hundreds of times faster than traditional methods, followed by in-house manufacturing, testing, and scaling on proprietary aerospace-qualified assets. Recent commercial launches include ultra-high-temperature polymers and carbon-carbon thermal protection systems, with contracts underway with defense partners and a growing product pipeline across advanced composites and optical protection systems. Following its acquisition of SHD, Cambium holds significant global capacity in aerospace and industrial prepreg, film, and adhesives production. On January 5, 2026, Cambium announced a $100 million Series B financing round led by 8VC, with participation from MVP Ventures, Lockheed Martin Ventures, GSBackers, Veteran Ventures Capital, J17 Ventures (or J17 Capital), Vanderbilt University, Alumni Ventures, Gaingels, Inevitable Ventures, JACS Capital, Jackson Moses, and other individuals and family offices. This matches the specified investors including 8VC as lead, Gaingels, GSBackers, Inevitable Ventures, J17 Capital, Jackson Moses, JACS Capital, Lockheed Martin Ventures, MVP Ventures, SignalRank (possibly aligned), and Vanderbilt University. The funding aims to accelerate Cambium's product pipeline and expand materials manufacturing across the U.S., U.K., and Europe, building a distributed, secure Western advanced-materials platform for speed, scale, and resilience. Cambium's platform supports rapid prototype turnaround and instant scaling for supply-chain security in land, sea, air, and space applications. CEO Simon Waddington highlighted the round as validation for reindustrializing critical materials manufacturing for defense and industrial bases. 8VC Managing Partner Joe Lonsdale emphasized Cambium's role in powering top aerospace and defense innovators with fast, profitable growth. Post-round valuation stands at $410.4 million, with total funding raised reaching $124.9 million across rounds.
Dec 2023Series A8VC (lead); Veteran Ventures Capital; Marlinspike Capital; Vertical Capital Advisors; MVP Ventures; Gaingels; GSBackers; Kern Venture Group$19M-Cambium develops advanced biomaterials for next-generation hardware, focusing on high-performance materials for defense and industrial applications. The company closed a $19 million Series A funding round on December 5, 2023, led by 8VC, with participation from Veteran Ventures, GSBackers, Marlinspike, MVP Ventures, Gaingels, Kern Venture Fund, Jackson Moses, Vertical Capital, and angels. This brought total funding to over $27 million, including an $8 million seed in 2021. Funds will build facilities, conduct advanced materials trials, and aim for product revenues by 2025, with current income from U.S. government R&D awards like bioMADE and DOD programs. The company is negotiating with commercial firms, including defense tech startups, and plans to grow headcount to 20 by Christmas 2023 and double by end of 2024. Cambium positions itself at the intersection of a generational shift in the industrial base, emphasizing new materials thinking for defense and beyond. Subsequently, Cambium raised a $100 million Series B in January 2026, again led by 8VC with some overlapping investors like MVP Ventures, GSBackers, Veteran Ventures Capital, and Gaingels, plus new ones including Lockheed Martin Ventures. This later round supports scaling product pipeline and manufacturing in the US and Europe for aerospace, defense, energy, marine, and motorsport, following acquisition of SHD for expanded production capacity.
Sep 2021Seed8VC (lead); Ginkgo Bioworks$8M-Cambium Biomaterials develops advanced biomaterials for high-performance applications in aerospace, defense, and other sectors. The company focuses on high-temperature polymers, ceramic-like materials for hypersonic uses, and laser protection systems. Cambium began with collaboration on bio-based composites for naval aircraft and has expanded into UAVs, eVTOLs, battery casings, and satellite protection. Cambium closed an $8 million seed round in 2021, followed by a $19 million Series A led by 8VC with participation from Veteran Ventures, GSBackers, Marlinspike, MVP Ventures, Gaingels, Kern Venture Fund, Jackson Moses, Vertical Capital, and angels, bringing total funding over $27 million at that time. In September 2021, Cambium announced a partnership with Ginkgo Bioworks to accelerate discovery and commercialization of biomaterials using Ginkgo's cell programming platform. 8VC led subsequent rounds, including a $100 million Series B in January 2026 with participants like Lockheed Martin Ventures, MVP Ventures, and others, raising total funding over $127 million.

Who has invested in Cambium?

16 investors have backed Cambium across its funding rounds, including 8VC, Gaingels, MVP Ventures, GSBackers, Veteran Ventures Capital and Lockheed Martin Ventures.

Lead investors include 8VC.


Cambium Investors

Investors in Cambium by funding rounds participated
InvestorHQRoundsRoleFirst check
8VCUnited StatesSan Francisco, CA3LeadSep 2021
Veteran Ventures CapitalUnited StatesWashington, DC2ParticipantDec 2023
MVP VenturesUnited StatesSan Francisco, CA2ParticipantDec 2023
GaingelsUnited StatesNew York City, NY2ParticipantDec 2023
GSBackersUnited StatesSan Francisco, CA2ParticipantDec 2023
Ginkgo BioworksUnited StatesUnited States1ParticipantSep 2021
Marlinspike CapitalUnited StatesWashington, DC1ParticipantDec 2023
Vertical Capital AdvisorsUnited StatesAlpharetta, GA1ParticipantDec 2023
J17 CapitalCanadaToronto1ParticipantJan 2026
JACS CapitalUnited StatesNew York City, NY1ParticipantJan 2026
Inevitable VenturesUnited StatesLos Angeles, CA1ParticipantJan 2026
SignalRankUnited StatesSan Francisco, CA1ParticipantJan 2026
Kern Venture GroupUnited StatesBakersfield, CA1ParticipantDec 2023

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Acquisitions by Cambium

Cambium has acquired 1 company to date.

Last acquisition by Cambium was on December 2nd 2025. Cambium acquired SHD Composites for undisclosed valuation.


Latest Acquisitions by Cambium

SHD Composites
Description
SHD Composites is a UK-based manufacturer of composite tooling, prepreg materials, and components, providing technical support and research services.
HQ CountryUnited Kingdom
HQ City
-
Deal Date2 Dec 2025
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Cambium Competitors

Cambium competitors include listed companies like Magnera, Aspen Aerogels and Luxfer Holdings, and private ones like Paragraf, Suzhou Kerun New Materials and Phoenix Tailings.

Public and private companies comparable to Cambium
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MagneraUnited StatesUnited StatesPublicly listed$3.2B$181M$419M0.6x
Aspen AerogelsUnited StatesUnited StatesPublicly listed$271M($331M)$426M1.7x
ParagrafUnited KingdomCambridgePrivate--$430M-
Suzhou Kerun New MaterialsChinaSuzhouPrivate--$435M-
Luxfer HoldingsUnited StatesUnited StatesPublicly listed$385M$38M$461M1.4x
Phoenix TailingsUnited StatesBoston, MAPrivate--$360M-

Cambium Public Comps

Cambium is still privately-owned, but its public comps include Magnera, Aspen Aerogels, Luxfer Holdings, Zotefoams, Alpha HPA, HS Hyosung Advanced, REalloys, Australian Strategic Materials, Accsys and Canatu.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Magnera$3.2B$181M0.7x0.6x11.5x5.5x
Aspen Aerogels$271M($331M)1.5x1.7x(1.2x)(96.1x)
Luxfer Holdings$385M$38M1.3x1.4x13.6x10.2x
Zotefoams$213M$41M1.7x1.4x8.6x7.1x
Alpha HPA$532K($29M)798.3x432.7x(14.8x)(14.6x)
HS Hyosung Advanced$2.4B$271M1.0x1.0x9.2x8.2x
REalloys$2M($3M)188.0x165.6x(167.2x)(10.6x)
Australian Strategic Materials$2M($16M)82.4x89.3x(11.8x)(12.7x)

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Common questions about Cambium

When was Cambium founded?Cambium was founded in 2019.
Where is Cambium headquartered?Cambium is headquartered in Mojave, CA, United States.
Is Cambium publicly listed?No, Cambium is a private, VC-backed company.
What is Cambium's valuation?Cambium was last valued at $410M in its Series B in January 2026.
How much funding has Cambium raised?Cambium has raised $127M across 3 funding rounds.
What was Cambium's last funding round?Cambium's last funding round was a $100M Series B in January 2026, led by 8VC.
Who are Cambium's investors?Cambium's investors include 8VC, Veteran Ventures Capital, MVP Ventures, Gaingels, GSBackers, Ginkgo Bioworks, Marlinspike Capital, Vertical Capital Advisors, J17 Capital, JACS Capital and 6 others.
What is Cambium's revenue?Cambium's latest recorded revenue is $298M (January 2026).
What is Cambium's revenue multiple?Cambium's latest valuation implies a 1.4x revenue multiple ($410M valuation on $298M of revenue).
Which companies are comparable to Cambium?Companies comparable to Cambium include Magnera, Aspen Aerogels, Paragraf, Suzhou Kerun New Materials, Luxfer Holdings and Phoenix Tailings.
How many companies has Cambium acquired?Cambium has acquired 1 company, including SHD Composites.

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