New Delhi/Bengaluru: Scimplifi, a platform for all sourcing and manufacturing of specialty chemicals, has announced that it has raised $3.67 million in its seed round from global institutional investors 3one4 Capital and BEENEXT.
"Angel investors with expertise in the chemical industry and B2B commerce also participated in this round. Scimplifi aims to use the raised funds to expand the core team on the business, value engineering, and technology front," the company said in a statement.
The company said that it is targeting to shift to a 60 per cent export-oriented model within the next year and plans to expand its reach to 20 countries and 4 new categories in chemicals.
In addition, the company said that it will be adding labs in 3 more categories to support research. Users of the platform can explore a technology map that highlights over 100 manufacturing plants involved in multiple chemistries.
Founded by Salil Srivastava and Sachin Santhosh, Scimplifi is an end-to-end B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries – pharmaceutical, personal care, and agrochemical.
"Specialty chemicals is an $800 billion global market that is extremely heterogeneous and fragmented. Globally, manufacturing supply chains are now shifting in India’s favor like never before. However, it is complex to bring together the R&D across multiple chemistries, compliances across different markets, and manufacturing from milligram to metric ton scale while providing a world-class service. At Scimplifi, we aim to become a trusted, science-first platform from a concept in a lab to finished product manufacturing for our global customers," said Salil Srivastava, Co-founder and CEO, Scimplifi.
“In the backdrop of robust macro trends within the sector and capabilities across the product life cycle, Scimplifi has made a solid debut. Salil and Sachin have curated a skilled team with a mix of business and technical know-how. We're enthusiastic about partnering with Scimplifi asthey strive to unleash India's potential as a specialty chemical manufacturing powerhouse,” said Akshay Sharma, Vice President, Investments, 3one4 Capital.
“From the team’s focus on science-first solutions to their unique service offerings, Scimplifi has all the right components to become a game-changer in the chemicals industry," said Anirudh Garg, Partner, BEENEXT. “We look forward to collaborating with the team as they continue to explore waysto make chemicalsourcing more efficient for businesses across multiple industries."
