Scimplify, a startup specializing in specialty chemical manufacturing, has raised $9.5 million in a Series A funding round. Investors include Omnivore, Bertelsmann India Investments, and existing backers 3one4 Capital and Beenext.
Scimplify plans to use the new funds to boost its research and development capabilities. The company also aims to expand into new markets.
Salil Srivastava and Sachin Santhosh founded Scimplify in 2023. The company provides a comprehensive platform for sourcing and manufacturing specialty chemicals. Scimplify supports the entire product lifecycle, from initial research to final production. The company serves various industries, including pharmaceuticals, agrochemicals, and personal care.
“The backbone of Indian specialty 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,” said Srivastava, in a statement on Thursday.
“Scimplify brings together unique products to these factories using cutting edge R&D along with consistent demand from global customers to utilize these capacities and provide a tech-enabled, full-stack offering to the modern agile customer,” he added.
Before starting Scimplify, Salil Srivastava headed the chemicals division at Zetwerk, a manufacturing unicorn. Sachin Santhosh previously worked at Bizongo, a B2B vendor management startup. He began his career at OfBusiness, a B2B e-commerce platform.
The global specialty chemicals market is substantial, exceeding $800 billion in 2023. Agrochemicals and pharmaceuticals dominate this market, accounting for over 60% of the total value. India plays a significant role as the world’s second-largest exporter of agrochemicals. The Indian chemical industry is poised for substantial growth, aiming to double its output by 2027.
“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 at Omnivore.
