Companies · Manufacturing

Natural Fiber Welding, Inc.

PEORIA · Manufacturing

Diligence memoA one-page analyst read on Natural Fiber Welding, Inc. — recommendation, valuation, rhythm, risks.
$176.0M
Total raised · real
8
Rounds
0.3×
Latest step-up
Top 3%
Sector rank · raised
Series C
Latest stage · inferred · Wed Dec 31 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Natural Fiber Welding, Inc. looks under-valued against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the manufacturing sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.14× the median modeled value of Series C Manufacturing companies in 2025–2027 (8 peers) — value vs value, same stage and era.
Active
  • Last raise 6 mo ago; this sector typically re-raises about every 12 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Manufacturing

Natural Fiber Welding, Inc. is one of 3257 Manufacturing companies tracked from PEORIA. By capital raised it ranks among the largest (ahead of 98% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
2
Investors (latest)
2025-12-31
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$250M$500M$750M$1.0BSeries A · 2020-07-08 Raised $8.4M (real) Modeled valuation $84M (est)Series A2020Series A · 2021-05-21 Raised $5.0M (real) Modeled valuation $41M (est)Series A2021Series B · 2022-03-07 Raised $35M (real) Modeled valuation $289M (est)Series B2022Series C · 2022-03-07 Raised $64M (real) Modeled valuation $582M (est)Series C2022Series C · 2022-10-23 Raised $20M (real) Modeled valuation $169M (est)Series C2022Series C · 2023-06-21 Raised $25M (real) Modeled valuation $192M (est)Series C2023Series B · 2023-06-21 Raised $23M (real) Modeled valuation $149M (est)Series B2023Series C · 2024-03-05 Raised $24M (real) Modeled valuation $168M (est)Series C2024Series B · 2024-03-05 Raised $24M (real) Modeled valuation $136M (est)Series B2024Series C · 2024-12-06 Raised $24M (real) Modeled valuation $152M (est)Series C2024Series C · 2025-12-31 Raised $7.0M (real) Modeled valuation $40M (est)Series C2025Cumulative $258M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$8.4M · 2020
Series A extension$5.0M · 2021
Series B$35.3M · 2022
Series C$63.6M · 2022
Series C extension$20.0M · 2022
Series C extension$24.8M · 2023
Bridge · Series C-stage$22.8M · 2023smaller follow-on
Series C extension$23.7M · 2024
Bridge · Series C-stage$23.5M · 2024smaller follow-on
Series C extension$23.6M · 2024
Series C extension$7.0M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$39.6M
Base estimate est.
$27.6M
Conservative case
$48.9M
Upside case
$46.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the manufacturing sector profile. Directional, not a quoted figure.

Series A · modeled $83.6M · 2020-07-082020Series A · modeled $40.8M · 2021-05-21Series B · modeled $289.2M · 2022-03-07Series C · modeled $582.2M · 2022-03-07Series C · modeled $168.8M · 2022-10-23Series C · modeled $192.5M · 2023-06-21Series B · modeled $148.7M · 2023-06-21Series C · modeled $168.4M · 2024-03-05Series B · modeled $136.0M · 2024-03-05Series C · modeled $152.5M · 2024-12-06Series C · modeled $39.6M · 2025-12-312025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
80%
Survival probability
59% low · 92% high
1.14×/yr
Annual markup
1.30×/yr upside case
0.5 yr
Elapsed time used
0.5 yr actual, capped for stale marks
manufacturing
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$32.1M/yr
Capital velocity
6.0 yr
On record since
2020
First round
11
Rounds on file
How it compares to the market

Benchmarked against 3257 companies in Manufacturing. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 87× above median
This company$176.0M
Sector median$2.0M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.1× of median
This company$7.0M
Sector median$47.3M
Modeled value — vs sector median (estimate, all stages) 3.3× above median
This company$39.6M
Sector median$12.0M

Raised more than 98% of sector peers (real $). Modeled value above 76% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #6 of 8.

This companyCohort peer
$100K$1.0M$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)LuxWall, Inc. · Series C Raised $167.0M · modeled $438.0M (est)JAPRA Technologies, Inc. · Series C Raised $75.0M · modeled $419.8M (est)Eve Nexus Inc. · Series C Raised $58.3M · modeled $332.1M (est)Monarch Quantum, Inc. · Series C Raised $73.6M · modeled $289.6M (est)Symmetry, LLC · Series C Raised $50.0M · modeled $280.0M (est)Box House Holdings, Inc. · Series C Raised $56.1M · modeled $34.6M (est)S2A Modular Corp · Series C Raised $63.4M · modeled $1.1M (est)Natural Fiber Welding, Inc. (this company) Raised $176.0M · modeled $39.6M (est)Natural Fiber Welding, Inc.
CompanyStageRaised · realValue · estvs peer med.
LuxWall, Inc.Series C$167.0M$438.0M1.54×
JAPRA Technologies, Inc.Series C$75.0M$419.8M1.47×
Eve Nexus Inc.Series C$58.3M$332.1M1.17×
Monarch Quantum, Inc.Series C$73.6M$289.6M1.02×
Symmetry, LLCSeries C$50.0M$280.0M0.98×
Natural Fiber Welding, Inc. this companySeries C$176.0M$39.6M0.14×
Box House Holdings, Inc.Series C$56.1M$34.6M0.12×
S2A Modular CorpSeries C$63.4M$1.1M0.00×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$8.4M2020-07-08$38.2M$83.6M90%
Series A$5.0M2021-05-21$22.7M$40.8M90%
Series B$35.3M2022-03-07$196.4M$289.2M90%
Series C$63.6M2022-03-07$424.1M$582.2M90%
Series C$20.0M2022-10-23$133.1M$168.8M90%
Series C$24.8M2023-06-21$165.0M$192.5M90%
Series B$22.8M2023-06-21$126.4M$148.7M90%
Series C$23.7M2024-03-05$157.9M$168.4M90%
Series B$23.5M2024-03-05$130.7M$136.0M90%
Series C$23.6M2024-12-06$157.2M$152.5M90%
Series C$7.0M2025-12-31$46.7M$39.6M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$8.4M2020-07-08
    • First recorded raise — entered as Series A.
    • 20 investors on this round.
  2. Series A$5.0M2021-05-21
    • Raised 10 mo later, in step with the ~12 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Series B$35.3M2022-03-07
    • Raised 10 mo later, in step with the ~12 mo sector norm.
    • Round 7.1× larger than the prior — scaling up.
    • 16 investors on this round.
  4. Series C$63.6M2022-03-07
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.8× larger than the prior — scaling up.
    • 26 investors on this round.
  5. Series C$20.0M2022-10-23
    • Raised 8 mo later, in step with the ~12 mo sector norm.
    • Round 3.2× smaller than the prior — bridge or down round.
    • 15 investors on this round.
  6. Series C$24.8M2023-06-21
    • Raised 8 mo later, in step with the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 17 investors on this round.
  7. Series B$22.8M2023-06-21
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 16 investors on this round.
  8. Series C$23.7M2024-03-05
    • Raised 8 mo later, in step with the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 61 investors on this round.
  9. Series B$23.5M2024-03-05
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 60 investors on this round.
  10. Series C$23.6M2024-12-06
    • Raised 9 mo later, in step with the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 47 investors on this round.
  11. Series C$7.0M2025-12-31
    • Raised 13 mo later, in step with the ~12 mo sector norm.
    • Round 3.4× smaller than the prior — bridge or down round.
    • 2 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~7mo cadence
$7.0M
Modeled next size est.range $7.0M$11.2M
0.3×
Last step-up
$32.1M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Gregg Smith9 other2022-03
Rob Goldman2 other2022-03
Robert Salter1 other2022-10
Shally Shanker1 other2023-06
Suhas Narayanaswamy1 other2024-03
Anthony E. Traymore2022-03
Anthony Traymore2022-03
Chad E. Stamper2020-07
Christine Goulay2023-06
Jason Berns2022-03
Jason E. Berns2022-03
Ken E. Zika2020-07
Ken Zika2022-03
Kerry Byler2025-12
Laura E. Maydon2022-03
Laura Maydon2022-03
Luke Haverhals2020-07
Rajan Palaniswamy2025-12
Rob E. Goldman2020-07
Robert E. Turner2020-07
Shanker Shally2022-10
Steve E. Zika2020-07
Steve Zika2022-03
Suhas Uppalapati2025-12
Registry & provenance

Natural Fiber Welding, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1818289
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Serious Materials IncManufacturingSeries C$130.1M$33.6Msame sector · same stage
Csw Industrials, Inc.ManufacturingSeries C$79.1M$29.0Msame sector · same stage
Cyalume Technologies Holdings, Inc.ManufacturingSeries C$64.5M$45.3Msame sector · same stage
Box House Holdings, Inc.ManufacturingSeries C$56.1M$34.6Msame sector · same stage
SmartLam NA Enterprises US, LLCManufacturingSeries C$52.7M$30.9Msame sector · same stage
Tropitone Holdings LLCManufacturingSeries C$52.5M$28.3Msame sector · same stage
MyForest Foods Co.Agtech / FoodtechSeries C$65.8M$23.7Mnetwork1 shared operator · same stage
Greenfield Nitrogen, L.L.C.ManufacturingSeries D+$125.5M$34.2Msame sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Gaingels Natural Fiber Welding 2024OtherPre-Seed$760K84%
Rainier Welding Partners, LLCManufacturingSeed$10.7M83%
Natural Food Works, LLCManufacturingSeed$18.4M83%
Sustainable Lumber, Inc.ManufacturingSeries A$19.6M82%
Gaingels Natural Fiber Welding 2022 LLCOtherPre-Seed$3.2M82%
Hobbs Bonded Fibers, LLCManufacturingSeries A$32.5M82%
Rock Fiber, Inc.ManufacturingSeed$4.2M82%
Applied Fiber Holdings LlcManufacturingSeed$30.7M82%
Frequently asked
How much funding has Natural Fiber Welding, Inc. raised?
Natural Fiber Welding, Inc. has raised approximately $176.0M in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is Natural Fiber Welding, Inc.'s estimated valuation?
Provath's modeled valuation for Natural Fiber Welding, Inc. is approximately $39.6M (modeled range $27.6M–$48.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Natural Fiber Welding, Inc. at?
Natural Fiber Welding, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Wed Dec 31.
What does Natural Fiber Welding, Inc. do and where is it based?
Natural Fiber Welding, Inc. operates in the Manufacturing sector, based in PEORIA.
Explore related

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