Diligence memo · auto-generated · as of July 2, 2026
C3 Industries, Inc.
C3 Industries, Inc. looks under-valued against its niche peers and is at-risk on financing cadence.
Businessfiled
C3 Industries, Inc. operates in Manufacturing / Industrial, based in ANN ARBOR.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
C3 Industries, Inc. has raised $65M in disclosed capital across 4 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $23M on 2021-05-14.
Most recent recorded round closed around 2023-09-15.
Valuation (modeled)modeled
Provath models C3 Industries, Inc. at approximately $21M (range $8.4M–$43M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.17× the median modeled value of Series B Manufacturing / Industrial companies in 2022–2024 (8 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 7 months.
Last raise 2.8 yr ago; this sector typically re-raises about every 13 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round was 6.9× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 97% of Manufacturing / Industrial peers (629 compared).
Modeled value ranks above 90% of those peers.
Closest niche peers: Li Industries, Inc., Lakeview Industrial 1, LLC, Zed Industries, Inc., Matrix Industries, Inc., Suburban Manufacturing Holdings, LLC.
Peoplefiled
6 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.