Scimplify, a firm that manufactures specialty chemicals, just secured $9.5 million in a Series A fundraising round.
The company situated in Bengaluru intends to utilize the new funding to bolster its research and development (R&D) skills and venture into untapped markets.
The funding was primarily driven by Omnivore, with participation from Bertelsmann India Investments, as well as existing investors 3one4 Capital and Beenext.
Scimplify is a B2B platform that facilitates the sourcing and manufacturing of specialty chemicals from start to finish. The company operates throughout the entire product life cycle, encompassing contract research and commercial chemical manufacture. It caters to several industries, including pharmaceuticals, agrochemicals, personal care, and home care.
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Scimplify reports that the worldwide specialized chemicals industry reached a value of over $800 billion in 2023, with agrochemicals and pharmaceuticals accounting for over 60% of the market. India holds the position of being the second-largest global exporter of agrochemicals. Furthermore, it is anticipated that the Indian chemical sector will witness a twofold increase in its production by the year 2027.
About Scimplify
Founded in 2023 by Salil Srivastava and Sachin Santhosh, Scimplify is a science-first platform for end-to-end sourcing and manufacturing of specialty chemicals.
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