[Funding alert] B2B platform for chemical industry Chemarc.com raises Rs 6 Cr from industry leaders Dilip Raghavan and Prashant Purker
Chemarc.com, a Mumbai-based comprehensive digital platform for the chemical industry in India, has raised over Rs 6 crore in Pre-Series A round of funding from industry leaders such as Dilip Raghavan, MD, Color Publications and Prashant Purker, CEO-ICICI ventures. Both the investors have invested in their personal capacities.
Commenting on the investment, Punit Krishna, Co-founder and CEO, Chemarc.com said,
“Digital is set to change the world of business for good, and we will be in the forefront in bringing that change to the chemical industry. The centrepiece of what we are doing is an engaged chemical community for whom we are rolling out collaboration and commerce on our digital platform that will help them grow revenues, save costs and build loyalty. We are delighted to have been chosen by global industry leaders and are excited to work with them.”
Founded in 2017 by Punit Krishna, an alumnus of the Harvard Business School and IIT-Kanpur, Chemarc.com has taken the content-collaboration-commerce route to transform the chemical industry to digital. It started with creating a chemical community on its platform through personalised content, carrying useful business and supplier information about one million chemicals, bazaar prices, detailed information on companies, online editions of popular trade magazines, industry news and expert views. This was followed by companies setting up their digital presence on the platform through feature rich, interactive microsites to engage with the community and discover customers.
Chemarc currently has more than 250 companies on its platform including global leaders BASF, Archroma and Covestro.
With this funding, it plans to add more companies on the platform and launch features for collaboration and commerce.
The startup said in an official statement that the chemical industry is one of the largest in the world and is estimated to be at $4 trillion. The industry is fast relocating to Asia and India is likely to see rapid growth from its current $150 billion.
“It’s a great time for the chemical industry in India to go digital. The industry needs Chemarc,” said Dilip Raghavan.
Chemarc, which is also looking to raise Series A funding in the near future, claims to have become the most visited website in the world among all digital platforms and company websites in the chemical industry in a short period since its inception.