Elchemy, a cross-border specialty chemical distribution platform, has raised $5.6 million in funding led by Prime Venture Partners, with support from existing investor InfoEdge Ventures.
The Mumbai-based startup, which raised $1.96 million in 2022, plans to use the funds to build a U.S. team, enhance tech capabilities, and invest in advanced supply chain visibility solutions.
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Founded in 2021 by Hardik Seth and Shobhit Jain, Elchemy helps global buyers source specialty chemicals from India and Southeast Asia. It simplifies supplier discovery, ensures product quality, and manages end-to-end fulfillment.
Plan of Elchemy
Elchemy plans to enhance its technology with quality management systems, real-time tracking, and automated documentation. The company focuses exclusively on exports, helping small and mid-sized Indian chemical manufacturers expand globally.
Its primary target is the North American market, though it already serves customers in the Middle East, Europe, and Latin America. Elchemy’s distribution-first approach and advanced technology platform address key challenges for international buyers while improving efficiency, making it stand out in the fragmented specialty chemicals market.
Elchemy serves over 80 clients globally, exporting to around 50 ports, and aims to add 100 North American customers within the next year.
About Elchemy
Launched during the COVID-19 pandemic under BizinBiz Technologies Private Limited, Elchemy emerged as supply chains in the chemical industry faced severe disruptions. These challenges highlighted manufacturers reliance on single sources for raw materials driving the need to diversify suppliers.
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