# Felux

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/felux

- Industry: Internet
- Headquarters: Cleveland, US
- Website: www.felux.com
- Total disclosed funding: $24M
- Latest round: Series A (Jun 2, 2022)
- Investors on record: 7

## About

Felux Inc., based in Cleveland, Ohio, is a steel products company established in 2019, specializing in the sale and distribution of various types of steel tailored for industries such as construction and manufacturing.Felux Inc. provides a wide array of steel products, including hot-rolled, cold-rolled, galvanized, and aluminized steel. Founded by Chris Day, Dallas Hogensen, and Todd Leebow, the company has undergone a strategic focus on direct sales since its inception. As of June 2022, Felux successfully raised USD 19 mn in Series A funding led by EquipmentShare.com, Inc., with contributions from several investors, bringing the total capital raised to USD 19 mn and a current company valuation of USD 57.698 mn.Felux specializes in providing a diverse range of steel products, including hot-rolled, cold-rolled, galvanized, and aluminized steel. Their business model is centered around offering products that are readily available for shipment to customers' nearby locations, facilitating swift delivery and inventory replenishment. The customer base includes industries that require metal materials for manufacturing, construction, and various fabrication processes. The inventory is frequently updated, ensuring clients have access to the latest additions, catering to evolving demands in the market, and serving a broad geographical market across the United States.Felux generates revenue through a transactional model involving direct sales of steel products to businesses. Clients submit requests for quotes (RFQs) by uploading files or entering details manually, allowing the company to match them with suitable products. Sales agreements are made where clients purchase steel products for manufacturing or construction projects, with pricing structured based on the type of steel and specifications, determined at the time of the quote according to real-time inventory and local availability. This approach aligns with their B2B strategy, primarily targeting businesses rather than individual consumers.In June 2022, Felux Inc. raised USD 19 mn in Series A funding to facilitate its growth initiatives. The company plans to expand its offerings into new global markets, targeting the USD 460 billion European market with an anticipated launch in late 2023. This strategic expansion aims to leverage the recent funding to enhance their product portfolio and reach broader customer demographics.

## Funding rounds

- Series A, Jun 2, 2022, $19M — Lightbank, Signia Ventures, Expa, EquipmentShare.com Inc, 8VC, Jumpstart Ventures, Suffolk Technologies
- Seed, Aug 23, 2021, $5.1M — Lightbank, Expa, 8VC

## Investors

- Lightbank (https://capitalatlas.ai/funds/lightbank) — Seed, Series A
- Expa (https://capitalatlas.ai/funds/expa) — Seed, Series A
- 8VC (https://capitalatlas.ai/funds/8vc) — Seed, Series A
- Signia Ventures (https://capitalatlas.ai/funds/signia-ventures) — Series A
- EquipmentShare.com Inc — Series A
- Jumpstart Ventures (https://capitalatlas.ai/funds/jumpstart-ventures) — Series A
- Suffolk Technologies (https://capitalatlas.ai/funds/suffolk-technologies) — Series A