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

EntrackrEntrackr · 4m 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 Scimplify’s total capital raised to $54 million, following its seed and Series A rounds. The fresh capital will accelerate Scimplify’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 company’s plug-and-play model enables global buyers to leverage India’s cost-efficient production capabilities without the burden of setting up dedicated manufacturing facilities. “As 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,” said Srivastava. The Bengaluru-based company serves major markets, including the US, Europe, and Japan. Scimplify competes with Mstack, Atomgrid, Covvalent, Distil, and Elchemy.

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

Economic TimesEconomic Times · 9m 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.

Exclusive: Agrostar raises fresh funds from existing investors

EntrackrEntrackr · 3m ago
Exclusive: Agrostar raises fresh funds from existing investors
Medial

Exclusive: Agrostar raises fresh funds from existing investors Agritech startup Agrostar has raised Rs 57.65 crore in a fresh round from existing investors. This is the first round of investment for the Accel-backed company this year. Agritech startup Agrostar has raised Rs 57.65 crore or $6.7 million in a fresh round from existing investors. This is the first round of investment for the Accel-backed company this year. The board at Agrostar has passed a special resolution to issue 1,45,397 compulsory convertible preference shares at an issue price of Rs 3,965 each to raise Rs 57.65 crore, its regulatory filing accessed from the Registrar of Companies shows. Existing investors Accel India, Evolvence, Chiratae Ventures, Hero Enterprises, Bertelsmann, and Aavishkaar India participated during the round. According to Entrackr’s estimates, the company has been valued at around $293 million post-allotment. Agrostar operates as a comprehensive platform catering to farmers, offering both online and offline channels for farm advisory solutions and agricultural inputs. Agrostar generates revenue from the sale of agri inputs. Agrostar has raised over $110 million to date, including $70 million Series D led by Schroders. According to the startup data intelligence platform TheKredible, before this round, Chiratae Ventures was the largest external stakeholder, followed by Aavishkaar Capital, Accel, and Bertelsmann. The company last filed its financial statements in FY22, where it recorded 88.4% year-on-year growth to Rs 260 with the loss of Rs 142 crore in the same period. It competes with Ninjacart, DeHaat, and Waycool. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

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