Red Metals Raises $10M in Seed Funding Led by Gigascale Capital

The round also saw participation from Future Ventures, MCJ, and JB Straubel.

The company plans to use the funding to expand its operations and accelerate the development of its products and technology.

Red Metals plans to combine processing, sorting, and refining into one continuous operation. This approach is designed to turn copper feedstocks directly into finished products while removing several intermediate steps that normally increase costs, delays, and emissions.

The companys process is designed to work with different types of feedstocks, and will initially focus on copper scrap sourced in the United States. Its goal is to make domestic copper refining economically viable without relying on government subsidies.

Red Metals also aims to help strengthen U.S. manufacturing by supporting industrial growth and creating skilled jobs. Its first commercial product will be high-conductivity copper rod, a key material used to make electrical wire, magnet wire, and other electrical components.

Copper is essential for key industries such as power infrastructure, batteries, data centers, defense and advanced manufacturing. US demand is expected to grow by more than 1 million metric tons per year by 2035, creating a market worth over $45 billion.

“America has the feedstocks, the demand, and the workforce to produce copper domestically at scale. What it has lacked is an economically viable refining process,” said Jackson Switzer Founder, and CEO of Red Metals. “Red Metals is building an integrated, modern model that converts copper feedstocks directly into finished products closer to where they’re needed, reducing supply chain complexity while strengthening domestic manufacturing.”

“Electricity and industry run on copper, and the U.S. has spent decades offshoring the refining and manufacturing capacity needed to produce it,” said JB Straubel, founder and CEO of Redwood Materials. “Jackson has the rare combination of technical depth and operational pragmatism needed to rebuild that capability. What Red Metals is building is exactly the kind of industrial infrastructure America needs more of.”

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Victoria Beasley, Partner at Gigascale Capital, added: “The demand signal for domestically refined copper is undeniable, but the domestic infrastructure needed to support it barely exists today. Red Metals is the first company we’ve seen combining genuine process innovation with the execution capability required to rebuild it.”

About Red Metals

Founded by Jackson Switzer, Red Metals is building a modern copper manufacturing business focused on bringing copper refining back to the United States. The company converts different types of copper feedstocks directly into finished copper products through a single streamlined process. Its technology uses fewer production steps, and significantly less energy than traditional refining methods. By producing copper closer to customers, Red Metals aims to deliver materials faster and support growing demand from data centers, power grid upgrades, electrification projects and defense applications.

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