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Exclusive: Scimplify scoops up $7 Mn in Series A led by Omnivore

EntrackrEntrackr · 1y ago
Exclusive: Scimplify scoops up $7 Mn in Series A led by Omnivore
Medial

Scimplify, a platform for sourcing and manufacturing of specialty chemicals, has raised Rs 59 crore (approximately $7 million) in its Series A round from new and existing investors. The board at Scimplify has passed a special resolution to issue 17,514 Series A CCPS at an issue price of Rs 33,676 each to raise Rs 59 crore or $7 million, its regulatory filing with the Registrar of Companies shows. Omnivore led the round with Rs 24.7 crore while 3One4 Capital, Beenext Asia, and Bertelsmann participated with Rs 13.56 crore, Rs 5.6 crore, and Rs 14.82 crore, respectively. Entarckr was first to report about Scimplify’s Series A in June. The company has raised around $11 million to date including its $3.67 million seed round from 3one4 Capital and Beenext last year. According to the data intelligence platform TheKredible, Scimplify has been valued at around Rs 320 crore or $39 million post-allotment. Founded in 2023 by Salil Srivastava and Sachin Santhosh, Scimplify is a B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries such as pharmaceutical, personal care, and agrochemical. According to the company’s website, it offers emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others. The Bengaluru-based firm competes with Atomgrid, which raised $1.2 million in its seed round led by Merak Ventures in May this year. Covvalent, another key player in the space, raised $4.3 million led by Nexus Venture Partners.

Exclusive: IDfy set to raise $25 Mn led by Neo Asset Management

EntrackrEntrackr · 9d ago
Exclusive: IDfy set to raise $25 Mn led by Neo Asset Management
Medial

Exclusive: IDfy set to raise $25 Mn led by Neo Asset Management Identity verification startup IDfy is raising Rs 220 crore (around $25 million) in a fresh funding round led by Neo Asset Management, with participation from existing investors Emerald, Elev8, and others. The board at IDfy passed a special resolution to issue 24,39,850 Series F compulsorily convertible preference shares at an issue price of Rs 901.7 each to raise Rs 220 crore, filings with the Registrar of Companies show. Neo Asset Management, through its funds, will lead the round with an investment of Rs 189 crore. Blume Ventures will invest Rs 4.45 crore, Emerald Lush Rs 11 crore, and Elev8 Rs 5 crore. IndiaMart and Kael will contribute the remaining amount. The company plans to deploy the fresh proceeds towards growth initiatives and strengthening its balance sheet. As per Fintrackr’s estimates, IDfy’s post-money valuation stands at around Rs 2,420 crore ($272 million). Founded by Ashok Hariharan, Vineet Jawa, and Hatim Baheranwala, IDfy develops technology-driven products and solutions that authenticate individuals and businesses. Its platform enables enterprises to prevent fraud and onboard verified entities with minimal friction. The Mumbai-based company claims to serve over 1,500 clients across sectors such as BFSI, FMCG, e-commerce, gaming, sharing economy, and large conglomerates. It operates across India, SEA, and the Middle East. According to startup data intelligence platform TheKredible, IDfy has raised over $70 million to date, including a $27 million round comprising primary and secondary transactions from Elev8, KB Investment, and Tenacity. During FY25, the company’s revenue grew 28.3% year-on-year to Rs 186 crore from Rs 145 crore in FY24. It also turned profitable during the year, reporting a net profit of Rs 1.6 crore.

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