Scimplify, an Indian startup that helps pharmaceutical and agriculture companies access a range of specialty chemicals, has raised $40 million in a new funding round co-led by Accel and Bertelsmann India Investments to widen its footprint in the U.S. and reach new markets.
The Series B round pegs Scimplify’s valuation at about $150 million post-money, the company said.
Specialty chemicals are vital for manufacturing in many industries, but access is still a problem, as manufacturers of these chemicals are scattered across the world. Companies have mostly relied on Chinese suppliers to source such chemicals, but geopolitical tensions are increasingly pushing manufacturers to look for alternatives in other regions. Moreover, customers often find it hard to find a specific chemical if they are looking for a particular reactor, chemistry, or compliance such as U.S. FDA or GMP.
Scimplify aims to connect manufacturers with specialty chemical makers using its platform, ATOMS, which lists specialty chemicals from over 5,000 factories run by over 200 manufacturers across 10 countries including India, China, Vietnam, Egypt, and Japan. The startup primarily targets pharmaceuticals, agriculture, and industry.
The startup vets manufacturers, gets them audited by third-parties semi-annually, and segregates them based on their geography, chemistry, capacity, and compliance. It also process-engineers existing chemicals to make them cost-effective and relevant for different use cases.
Scimplify has so far served 600 customers across more than 16 countries worldwide, co-founder Sachin Santhosh told TechCrunch.
Unlike other marketplaces, Santhosh said, Scimplify also offers made-to-order chemicals by working with chemical producers, and lets customers easily switch from one recipe to another using its manufacturer network.
Before Scimplify, Santhosh worked at the B2B startups Bizongo and OffBusiness, both of which helped streamline procurement and supply chain processes for businesses. His co-founders, Salil Srivastava and Dheeraj Dhingra, both previously worked at manufacturing supply chain company Zetwerk.
The startup plans to use the fresh cash to scale its presence geographically, cater to new industry segments, and enhance R&D. Scimplify has subsidiaries in Dubai and Indonesia, and is looking to set up offices in the U.S. and Japan. It has a team of 150 people.
It’s now considering acquiring one or two chemical factories to unlock new kinds of customers and regulated markets, Santhosh told TechCrunch.
The Series B also saw participation from UMI and existing investors, Omnivore and 3one4 Capital. The company has raised funding of $54 million so far since its inception in 2023.
Source: Original Article
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