Scimplify is a platform that supplies and manufactures specialty chemicalsthat have secured $7 million  in its new series A funding round. The Scimplify’s website claims to offer emulsifiers, biostimulants,  biofertilizers, and more products. The funding round had the participation of new and existing  investors. Omnivore led the round with Rs 24.7 crore followed by 3one4 Capital with Rs 13.56 crore.  Bertelsmann pumped in Rs 14.82 crore while Bennext Asia invested Rs .6 crore. 

The board has approved a special resolution to allot 17,514 series A CCPS at an issue price of Rs 33,676  per debenture to raise 7 million USD. Entrackr reported. According to the company filing, the startup  will use these fresh proceeds for working capital purposes, scaling its operations, and market  expansion. Founded by Salil Srivastava and Sachin Santhosh, this startup provides a B2B platform that  develops affordable and reliable chemical solutions. The company provides a platform operating across  the product life cycle in contract research and commercial chemical manufacturing. The startup  provides chemical manufacturing solutions in industries including personal care, pharmaceuticals, and  agrochemicals. This investment shows the trust of Omnivore in Scimplify’s market potential and  business model. 

The Bengaluru startup plans to use this investment and expand its service in the global market to more  than 20 countries while introducing four new chemical categories. The company currently offers its  services in India across Gujrat, Hyderabad, and Karnataka. The startup has raised around $11 million  since its inception, including $3.67 secured during its seed funding round led by 3one4 Capital and  Beenext. The startup data intelligence platform, the kredible mentioned that the post-money  allotment valuation of Scimplify was around $39 million. The startup manufactures customized  solutions for every research and development process, scale-up, or commercial manufacturing  process.  

The fresh proceeds from this round will enable the company to build specialized solutions for the  enhanced platform and increase its performance capability of the platform. This development came  just when the specialized chemical market saw increased interest from investors. The company is  backed by Innoven Capital, Panacea Services, Beenext, and 3one4 Capital, among others. The startup  faces competition from other specialized chemical companies including Quartzy, LanzaTech, Atomgrid, and Covvalent. The major competitor of the startup Atomgrid recently secured $1.2 million from  Merak Ventures in its seed funding round. 

Conclusion: 

Specialized chemical manufacturing platform, Scimplify raised $7 million in a series A funding round  from its existing and new investors. The round was led by Omnivore with a Rs 24.7 crore investment  followed by 3one4 Capital, Beenext Asia, and Bertelsmann. The startup provides an online B2B  platform that offers affordable and reliable specialized chemical solutions. The company develops,  manufactures, and provides solutions across different industries including agrochemical,  pharmaceutical, and personal care. The startup plans to use this investment and expand its services in  more than 20 countries. The specialized chemical startup was also planning to launch four new  chemical categories.