Indian speciality chemical platform Scimplify secured $40 million in a Series B funding round led by Accel and Bertelsmann Investments to further expand in the US and enter new markets.
UMI and existing investors, Omnivore and 3one4 Capital, were the other participants in the round that valued the company at about $150 million post money.
The startup has planned to use the fresh capital to expand its reach, serve new industry segments, and enhance R&D. It has considered setting up offices in the US and Japan and buying one or two chemical facilities to gain new customers and enter new markets.
Earlier in August last year, the startup raised $9.5 million in a Series A round led by Omnivore.
Scimplify offers a platform ATOMS that connects manufacturers with specialty chemical makers. The platform has more than 3,000 products across key industries like Agrochemicals, Pharmaceuticals, Flavours & Fragrances, Industrial Chemicals, Beauty & Personal care, and Food & Nutrition.
Manufacturers can access these products made by over 150 chemical makers from across more than 15 countries including India, China, Vietnam, Egypt, and Japan.
The company conducts an audit of the manufacturers, and divides them based on their geography, chemistry, capacity, and compliance. It also processes and engineers existing chemicals to make them cost-effective and relevant for different use cases.
Speciality chemicals are essential in the manufacturing process across several industries, but access to these chemicals is a concern as the suppliers are spread across geographies. Companies are also looking to reduce their over-reliance on Chinese suppliers and looking for viable alternatives.
Since its inception in 2023, Scimplify has served around 600 customers across more than 16 countries in the world.
