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Specialty chemicals startup Scimplify raises $40 Mn in Series B round

EntrackrEntrackr ยท 8m ago
Specialty chemicals startup Scimplify raises $40 Mn in Series B round
Medial

Scimplify, a platform for sourcing and manufacturing specialty chemicals, has raised $40 million in a Series B funding round co-led by Accel and Bertelsmann India Investments, with participation from UMI and existing investors, including Omnivore and 3one4 Capital. This funding brings Scimplifyโ€™s total capital raised to $54 million, following its seed and Series A rounds. The fresh capital will accelerate Scimplifyโ€™s export expansion beyond the 16 countries it currently serves while strengthening its presence in key industries such as life sciences, crop sciences, and industrial chemicals, the company said in a press release. Many manufacturers struggle with sourcing raw materials, navigating regulatory requirements, and scaling up production to meet global demand. Scimplify addresses these challenges by offering an end-to-end manufacturing ecosystem, combining in-house scientific expertise with a network of over 200 specialized manufacturing plants across cost-efficient regions in India. Founded by Salil Srivastava and Sachin Santhosh, Scimplify is a B2B fulfillment platform that operates across the product life cycle, from contract research to commercial chemical manufacturing, serving industries such as pharmaceuticals, personal care, and agrochemicals. The companyโ€™s plug-and-play model enables global buyers to leverage Indiaโ€™s cost-efficient production capabilities without the burden of setting up dedicated manufacturing facilities. โ€œAs global supply chains undergo rapid shifts, customers are actively seeking reliable partners who can provide enterprise-grade R&D and comprehensive solutions for their specialty chemical manufacturing needs. Over the past year and a half, we have built great momentum, and with Accel joining this partnership, we remain steadfast in building a global R&D-led manufacturing company that brings a new-age approach to the modern customer,โ€ said Srivastava. The Bengaluru-based company serves major markets, including the US, Europe, and Japan. Scimplify competes with Mstack, Atomgrid, Covvalent, Distil, and Elchemy.

Exclusive: Snabbit set to raise $30 Mn with over 2X valuation premium

EntrackrEntrackr ยท 1m ago
Exclusive: Snabbit set to raise $30 Mn with over 2X valuation premium
Medial

URL: https://entrackr.com/exclusive/exclusive-snabbit-set-to-raise-30-mn-with-over-2x-valuation-premium-10600876 Content: On-demand home services platform Snabbit is raising Rs 265.4 crore ($30 million) in a Series C round led by Bertelsmann, with participation from existing investors Lightspeed, Elevation, and Nexus Venture Partners. This marks the third funding round within 10 months of 2025 for the Bengaluru-based company, which last raised $19 million in its Series B round in May. Snabbit recently relocated its base from Mumbai to Bengaluru. The Snabbitโ€™s board passed a special resolution to approve the issuance of 54,876 Series C CCPS at an issue price of Rs 48,377 apiece to raise the above-mentioned sum, its regulatory filing accessed from Registrar of Companies (RoC) shows. As per the filing, Bertelsmann will lead the round with an investment of Rs 135.39 crore ($15.38 million). Existing investors Lightspeed and Elevation Capital will each contribute Rs 53 crore ($6 million), while Nexus Venture Partners will invest Rs 23.89 crore to increase its stake in the company. The proceeds from the funding will be used to meet its working capital needs and capital expenditure to sustain growth, expand its user base in India, and address general corporate purposes, the filing added. According to Entrackrโ€™s estimates, Snabbitโ€™s valuation is set to surge over 2X to Rs 1,516 crore ($172 million) from $80 million in its Series B round. Notably, the company was valued at $23 million post its Series A round in January this year. Founded in 2024 by Aayush Agarwal, Snabbit is an on-demand home services platform that connects households with trained professionals for tasks such as cleaning, dishwashing, and laundry. Users can book experts by the hour, with service providers arriving within 10 minutes. According to startup data intelligence platform TheKredible, Snabbit had raised around $25 million prior to this round. Following the latest allotment, new investor Bertelsmann will hold an 8.5% stake in the company, while Nexus Venture Partners will remain the largest external shareholder with a 21.24% stake. Elevation Capital and Lightspeed will own 19.93% and 14.79% stakes, respectively. Snabbit directly competes with industry leader Urban Company, which was recently listed on Indian stock exchanges. It also faces competition from Pronto, a ten-minute house help service startup that raised $11 million in a round co-led by General Catalyst and Glade Brook Capital.

Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation

EntrackrEntrackr ยท 4d ago
Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation
Medial

Women-focused fast fashion brand Newme has kicked off a Series B round with Rs 108.66 crore (approximately $12 million) co-led by existing investors Accel India, Fireside Ventures, and with the participation of new investor Point72 Ventures and others. Newme had secured $18 million in a Series A round led by Accel in July last year. The Newmeโ€™s board passed a special resolution to issue 3,447 Series B CCPS at an issuance price of Rs 3,15,231 per share to raise the amount as mentioned earlier, according to its regulatory filing with the Registrar of Companies (RoC). Accel India and Fireside Ventures will each invest Rs 36.94 crore ($4 million), while Point72 Ventures will join the captable with Rs 26.38 crore ($3 million). AUM Ventures, 2am Ventures, and A, Paul SRC SPV V, LLC will contribute the remaining amount. According to Entrackrโ€™s analysis, the D2C firmโ€™s valuation is set to rise by about 41% to Rs 988 crore ($112 million), compared to its earlier valuation of Rs 700 crore during the Series A funding round. Founded by Shivam Tripathi, Sumit Jasoria, Himanshu Chaudhary, and Vinod Naik, the Bengaluru-based startup sells women-centric products targeting Gen Z, across both online channels and offline stores. According to its website, the companyโ€™s app has more than 7 million downloads, and it operates 16 offline outlets across cities, including Bengaluru, Mumbai, New Delhi, Chandigarh, Pune, and Hyderabad, among others. According to startup data intelligence platform TheKredible, Newme has raised over $23 million across two funding rounds, including its seed round in January 2024. Following the latest infusion, Fireside Ventures will become the largest external shareholder with a 19.27% stake, followed by Accel India at 17.06%, while new investor Point72 Ventures will hold 2.67%. The companyโ€™s co-founders will collectively retain 31.45% ownership. Financially, Newme reported Rs 48.28 crore in operating revenue for the fiscal year ended March 2024, with a loss of Rs 35.75 crore. The company has yet to disclose its FY25 financials.

ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week

Economic TimesEconomic Times ยท 1y ago
ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
Medial

- Startups raised $77 million between September 28 and October 4, a 54.5% decrease from the same period last year. - This week, startups secured funding through 14 rounds, compared to 44 rounds in the year-ago period. - MStack, a specialty chemicals startup, raised $40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global. - Basic Home Loan, a fintech startup, raised $10.6 million in a series B funding round led by Bertelsmann India Investments. - Troo Good, a snack brand, raised $8.6 million in a funding round led by Oaks Asset Management. - Str8bat, a sports technology startup, raised $3.5 million in a series A funding round led by Exfinity Venture Partners.

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