Scimplify raises $9.5M in Series A funding led by Omnivore and Bertelsmann
The Bengaluru-based speciality chemicals firm plans to use the capital to enhance its R&D capabilities and expand its global footprint.
Speciality chemical manufacturing firm Scimplify has raised $9.5 million in a Series A funding round led by , alongside and existing backers and Beenext.
The Bengaluru-based startup plans to use the capital to enhance its R&D capabilities and expand its global footprint.
"The backbone of Indian speciality chemical manufacturing are mid-sized factories that have built in-depth, chemistry specific expertise over decades. However, there is significant available capacity to double the national output in the next 5 years with the given infrastructure.
"Scimplify brings together unique products to these factories using cutting edge R&D along with consistent demand from global customers to utilise these capacities and provide a tech-enabled, full-stack offering to the modern agile customer,” said Salil Srivastava, Co-founder of Scimplify, in a statement.
Founded in 2023 by Srivastava and Sachin Santhosh, Scimplify’s offers an end-to-end contract manufacturing platform for sourcing and manufacturing speciality chemicals, to sectors such as pharmaceutical APIs and agrochemicals.
Prior to this, Srivastava led the chemicals vertical at Zetwerk, a contract manufacturing company. Santhosh, an IIT-Madras alumnus, earlier worked with Bizongo.
“Scimplify's science-driven platform delivers affordable, sustainable agrochemicals and green chemistry intermediaries. By streamlining R&D and manufacturing of sustainable formulations, they're meeting global demands and positioning India as a leader in sustainable manufacturing of chemical intermediaries," said Mark Kahn, Managing Partner of Omnivore.
"Their approach satisfies regulatory requirements, consumer needs, and environmental concerns, elevating industry standards,” he added.
According to Grand View Research, the global speciality chemicals market was valued at approximately $641.5 billion in 2023; it is projected to reach $914.4 billion by 2030.
“We are excited to partner with Salil & Sachin on their venture to create value in the speciality chemicals industry through a full stack approach. Their unique science, technology and supply-first approach is best suited to leverage the increasing diversification of global supply chains while providing a big boost to the nation's ‘Made In India’ drive,” said Rohit Sood, Managing Partner of Bertelsmann India Investments.
Edited by Swetha Kannan