- Companies
- Cambium
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
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
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Product sales
Revenue
$298M (Jan 2026)
Valuation
$410M (Jan 2026)
Sectors
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
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2026 | Series B | $410M | 1.4x |
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
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2026 | $298M | $410M | 1.4x | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2026 | Series B | 8VC (lead); Veteran Ventures Capital; J17 Capital; JACS Capital; MVP Ventures; Inevitable Ventures; Gaingels; SignalRank; GSBackers; Vanderbilt University; Jackson Moses; Lockheed Martin Ventures | $100M | $410M | Cambium, 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 2023 | Series A | 8VC (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 2021 | Seed | 8VC (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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Sep 2021 | ||
| 2 | Participant | Dec 2023 | ||
| 2 | Participant | Dec 2023 | ||
| 2 | Participant | Dec 2023 | ||
| 2 | Participant | Dec 2023 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Dec 2023 | ||
| 1 | Participant | Dec 2023 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Dec 2023 | ||
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Start Free TrialAcquisitions 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
| Description | SHD Composites is a UK-based manufacturer of composite tooling, prepreg materials, and components, providing technical support and research services. |
| HQ Country | |
| HQ City | - |
| Deal Date | 2 Dec 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Cambium acquisitions and their M&A valuation multiples. Start Free Trial | |
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $3.2B | $181M | $419M | 0.6x | ||
| Publicly listed | $271M | ($331M) | $426M | 1.7x | ||
| Private | - | - | $430M | - | ||
| Private | - | - | $435M | - | ||
| Publicly listed | $385M | $38M | $461M | 1.4x | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $3.2B | $181M | 0.7x | 0.6x | 11.5x | 5.5x | |||
| $271M | ($331M) | 1.5x | 1.7x | (1.2x) | (96.1x) | |||
| $385M | $38M | 1.3x | 1.4x | 13.6x | 10.2x | |||
| $213M | $41M | 1.7x | 1.4x | 8.6x | 7.1x | |||
| $532K | ($29M) | 798.3x | 432.7x | (14.8x) | (14.6x) | |||
| $2.4B | $271M | 1.0x | 1.0x | 9.2x | 8.2x | |||
| $2M | ($3M) | 188.0x | 165.6x | (167.2x) | (10.6x) | |||
| $2M | ($16M) | 82.4x | 89.3x | (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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