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10x has raised $277.9M across 4 funding rounds.
Key people at 10x.
10x was founded in 2016 by Hew Leith (Founder and CEO).
10x has raised $277.9M in total across 4 funding rounds.
Based in London, 10x provides a cloud-native core banking software-as-a-service platform designed for global financial institutions. The company's technology enables retail banks to modernize their legacy infrastructure, deploy customized financial products, and access real-time data to support artificial intelligence applications. Operating across four key global markets including the United Kingdom, United States, Australia, and New Zealand, the enterprise has raised approximately £240 million in total funding to date. This capitalization includes a recent £40 million funding round supported by a syndicate of institutional investors such as BlackRock, Ping An, and JPMorgan Chase. The platform currently licenses its core banking technology to major retail banking customers, with active deployments supporting operations for institutions like Chase and Virgin Money. 10x was founded in 2016 by former Barclays chief executive officer Antony Jenkins.
10x was founded in 2016 by Hew Leith (Founder and CEO).
10x has raised $277.9M in total across 4 funding rounds.
10x's investors include BlackRock, J.P. Morgan, William Abecassis, Nationwide, Ping An, Westpac, NOW (Japan), Oliver Wyman, Jonathan Larsen.
10x Technology LLC is a clean technology startup founded in 2004 in Libertyville, Illinois, that manufactures precision micro- and nano-structured polymer and metallic substrates using a proprietary roll-to-roll embossing process.[1][2][4] The company revolutionizes the $800 billion plastics industry by enabling 3D replication of nano-features into plastics faster, cheaper, and better than traditional molding, targeting high-value applications in energy, transportation, electronics, government, and medical sectors.[1][2] Products include micro-needle arrays for transdermal drug delivery, Fresnel lenses for solar concentrators, LED lighting enhancements, natural lighting windows, and aero drag reduction skins, with reported $1M in trailing twelve-month revenue and around 10 employees.[1][2][4]
This manufacturing platform supports mass-scale production akin to 3D printing but optimized for cost reduction and performance gains, serving industries needing advanced materials without high molding expenses.[1][2]
10x Technology was founded in 2004 as an LLC by Robert M. Pricone, who has served as President since inception, focusing on assembling a technical team to commercialize high-technology engineered materials.[1] Pricone led early efforts to develop the core roll-to-roll embossing platform for nano-features in plastics.[1][2][4]
In 2015, Thomas S. Migala joined as CEO, bringing extensive executive experience: previously CEO of FANUC AMERICA (growing revenue from $70M to $200M), GE Aircraft Engines sales leader ($3.4B), VP at GE Fanuc (scaling from $75M to $170M), and Six Sigma leader saving $650M at GE, with degrees from University of Michigan (MS/BS Aerospace Engineering) and MIT (MS Business).[1] Early traction built on applications like medical micro-needles and optics, evolving from development to pilot and full-scale production.[1][4]
10x Technology rides the nanomaterials and advanced manufacturing wave, addressing demands for scalable micro/nano-structuring in clean tech amid pushes for sustainable energy, efficient transport, and precision medicine.[1][2] Timing aligns with rising needs for cost-effective alternatives to expensive molding or lithography, fueled by market forces like renewable energy growth (solar concentrators), EV/aerospace drag reduction, and minimally invasive medical delivery.[1][2]
By enabling cheaper, high-performance plastics, it influences the ecosystem through supplier roles to larger players in energy and electronics, potentially accelerating adoption of nano-enhanced materials in a $800B industry shifting toward efficiency and sustainability.[1]
10x Technology's scalable platform positions it for expansion in high-growth areas like clean energy and medtech, where nano-structuring demands surge with global sustainability mandates and biotech advances. Next steps likely include scaling production, securing partnerships for volume applications (e.g., solar or aero), and leveraging Migala's network for funding beyond its <$5M raised.[1][2]
Emerging trends—such as AI-optimized materials design and green manufacturing—could amplify its edge, evolving its influence from niche innovator to key enabler in the plastics revolution, building on two decades of specialized traction.[1][4]
Key people at 10x.
10x has raised $277.9M across 4 funding rounds. Most recently, it raised $44.5M 10X Banking - Other Equity in January 2024.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jan 8, 2026 | Lookiero | $19.9M Other Equity | Simon Menashy | Ander Michelena, Ekarpen, Perwyn, 10x Group, Bonsai Partners, Spanish Society for Technological Transformation, Banco Santander |
| Mar 1, 2023 | Innovamat | $21.0M Series A | Reach Capital | Altair Capital Management, Chaac Ventures, Charles Huang, Helen Liang, Jaan Tallinn, Bonsai Partners, Dozen Investments, Kibo Ventures |
| Nov 1, 2021 | Spect | $4.0M Seed | AME Cloud Ventures, Morado Venture Partners, 10x, XTX Ventures | AIX Ventures, Hardware Club, LDV Capital, Anna Patterson |
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 10, 2024 | $44.5M 10X Banking - Other Equity | BlackRock, J.P. Morgan | |
| Jun 15, 2021 | $187.0M 10X Banking - Series C | William Abecassis | J.P. Morgan, Nationwide, Ping An, Westpac |
| Dec 1, 2017 | $490K Seed | NOW (Japan) | |
| Sep 20, 2017 | $46.0M 10X Banking - Series A | Oliver Wyman, Jonathan Larsen |