Principal Mineral

Private

Southlake, TexasFrontier & Industrial Techhttps://principalmineral.com/

Last Round

Series A

Jun 16, 2026

Est. Valuation

$743.4M

Total Funding Raised

$280M

Momentum

Top 50%

of companies Caplight tracks

Company Overview

Principal Mineral is an industrial materials company that develops and manufactures critical mineral and material inputs for the electronics, defense, and energy industries.

Sector

Frontier & Industrial Tech

Verticals

Advanced Materials, Defense Tech, Computing Hardware, Smart Manufacturing, Supply Chain

Business Model

B2B

Customer Profile

Hardware Sales, Services & Consulting

AI Layer

Application

Keywords

critical materialscopper foilcopper-clad laminatesdefense industrial baseDIBprinted circuit boardsPCBreshoringstrategic metalsrare earth metalsEMI shieldingsupply chain securitydielectric prepregsindustrial manufacturingdefense tech

Historical Pricing

Historical view of private secondary pricing and transaction trends.

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Caplight Momentum Score

Proprietary index based on bid/ask volume and sentiment.

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Principal Mineral Comps

Public and private peers based on sector, stage, and business model.

Principal Mineral comps — public and private peers by sector, stage, and business model
Company	Status	Est. Valuation	Rev Multiple
OpenAI	Private	$86.0B	~40x
Cohere	Private	$5.0B	--
Competitor 1	Public	$XX.XB	XXx
Competitor 2	Public	$XX.XB	XXx

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Principal Mineral Funding Rounds

Historical fundraising activity

Data table
Round	Date	Amount Raised	Valuation	Investors	Sources
Series A	Jun 16, 2026

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Key People

Founding team and executive leadership

Wes Spurlock

Co-Founder & Chief Operating Officer (COO)

Founding Team

Adam Johnson

Chief Executive Officer

Executive Team

Matt Hellmuth

Chief Financial Officer

Executive Team

Principal Mineral Investors

Notable investors and investment history

Principal Mineral investors
Investor	Rounds
Overmatch	Series A
Lane42 Investment Partners	Series A
The New Industrial Corporation	Series A
J2 Ventures	Series A
Ensemble VC	Series A

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Market signals

Structured signals derived from secondary market and firmographic data.

Apr 27, 2026
Grew 19% QoQ, from 16 to 19 employees.

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Principal Mineral Filings

SEC and related filings with document metadata.

Data table
Typed	Date	Amount Offered	Amount Sold	Filling	Pages	Download
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Principal Mineral Filings

SEC and related filings with document metadata.

Frequently Asked Questions

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Firmographic Details

HeadquartersSouthlake, Texas

Employee Range21

Year Founded2024

Last FundingJun 16, 2026

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