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Scimplify raises $9.5 Mn in Series A round led by Omnivore and Bertelsmann

EntrackrEntrackr · 1y ago
Scimplify raises $9.5 Mn in Series A round led by Omnivore and Bertelsmann
Medial

Scimplify, a platform for sourcing and manufacturing of specialty chemicals, has raised $9.5 million in its Series A round led by Omnivore, alongside Bertelsmann India Investments and existing investors 3one4 Capital and Beenext. Entarckr was first to report about Scimplify’s Series A in June. With this new round, the company plans to double down on its R&D capabilities and add more geographies where key customer segments lie. Founded 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 a science-first, end-to-end contract manufacturing platform for agrochemicals, pharmaceutical APIs, and flavors & fragrances. 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 Ven.

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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: Speciality chemicals startup Scimplify to raise $5 Mn

EntrackrEntrackr · 1y ago
Exclusive: Speciality chemicals startup Scimplify to raise $5 Mn
Medial

Scimplify, a platform for all sourcing and manufacturing of specialty chemicals, is raising a new round to the tune of $5 million, sources aware of the development told Entrackr. The new round is coming just after six months for the Bengaluru-based firm. “Omnivore is leading $5 million in Scimplify while existing backers will also double down,” said one of the sources requesting anonymity. Scimplify raised $3.67 million in its seed round from 3one4 Capital and Beenext in December last year. Founded 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. During the last fundraise, Scimplify had said that it plans to expand its reach to 20 countries and 4 new categories in chemicals. Currently, it has manufacturing facilities in Karnataka, Hyderabad and Gujarat. “The deal is almost finalized and it will value Scimplify in the range of $20-25 million,” said another source. As per sources, Omnivore saw potential in Scimplify’s product portfolio of agrochemicals. According to the company’s website, it offers emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others. As per startup data intelligence platform TheKredible, 3one4 Capital controls 17% in Scimplify while Beenext had 7% holding as of seed round. Co-founders collectively hold nearly 65% stake in the company. Queries sent to Scimplify co-founder Srivastava and Omnivore did not elicit response until publication of the story. Scimplify competes with Atomgrid and Covvalent. Bengaluru-based Atomgrid raised $1.2 million in its seed round led by Merak Ventures in May this year while Covvalent scooped up $4.3 million led by Nexus Venture Partners in November 2022. In June 2023, impact venture capital firm Omnivore announced the first close of its third fund at $150 million to make 25-30 new investments in seed and Series A rounds. Some of its portfolio companies include DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel.

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

EntrackrEntrackr · 1y 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.

BioPrime raises $6 Mn in Series A round led by Edaphon

EntrackrEntrackr · 1y ago
BioPrime raises $6 Mn in Series A round led by Edaphon
Medial

Agri biotech startup BioPrime Agrisolutions (BioPrime) has raised $6 million in its Series A round led by Edaphon, with equal participation from existing investors Omnivore and Inflexor. This investment marks Belgium-based Edaphon’s first investment in Asia. Earlier in October 2022, the Pune-based startup had raised Rs 9 crore in its pre-Series A round led by Inflexor Ventures and Omnivore. Besides Inflexor and Omnivore, the company is supported by BIRAC, DBT, Govt of India, Venture Center, NCL Biotech Business Incubator, RICH, Telangana Govt, and UnLtd India. The fresh proceeds will be used to fuel BioPrime’s research in the crop protection segment, focusing on the co-development of novel bio fungicides and bioinsecticides. Founded by Renuka Karandikar, Amit Shinde, and Shekhar Bhosle, BioPrime develops affordable agribiologicals that modulate the basic physiological responses in crops using small biomolecules. These products improve crop resistance to insects/pests and help crops manage abiotic stress such as high temperature, excessive water, and drought, among others. The firm plans to launch its existing range of innovative biostimulants in North America, Brazil and Southeast Asia with trials in the US currently underway. Furthermore, BioPrime plans to advance and accelerate product development based on BioNexus, the patented technology platform, which claims to have identified over 170 novel microbial strains from its library of close to 18,000 strains.

Inito raises $29 Mn in Series B round led by Bertelsmann India

EntrackrEntrackr · 3m ago
Inito raises $29 Mn in Series B round led by Bertelsmann India
Medial

Inito raises $29 Mn in Series B round led by Bertelsmann India At-home diagnostics startup Inito has raised $29 million in a Series B round led by Bertelsmann India Investments, with participation from existing investor Fireside Ventures. The company’s total equity funding now stands at $45 million. It previously raised $6 million in a Series A round led by Fireside Ventures in November 2023. The new capital will support Inito’s move beyond fertility testing into broader hormone and health diagnostics built on AI-enabled antibody engineering. Inito entered the market in 2021 with an at-home fertility device that measures four hormone markers and interprets results using proprietary models. According to the company, the product has processed more than 30 million data points globally. After reaching scale in fertility monitoring, the company is developing tests for additional biomarkers across women’s and general health. Co-founders Aayush Rai and Varun AV said the next phase of the business focuses on using computational protein design to build synthetic antibodies. This approach replaces conventional antibody development, which relies on animal-derived material and manual screening. Inito aims to create a stable, consistent foundation for at-home diagnostic tests that historically required clinical infrastructure. The brand is building products for testosterone, thyroid, vitamins and other analytes, targeting a wider health-monitoring use case. Inito has teams across Bengaluru, Dubai and London and holds more than 20 patents linked to its testing platform.

Niqo Robotics raises $13 Mn in Series B round to scale globally

EntrackrEntrackr · 1y ago
Niqo Robotics raises $13 Mn in Series B round to scale globally
Medial

Agritech robotics firm Niqo Robotics (formerly TartanSense) on Tuesday announced that it has raised $13 million in a Series B round led by Brida Innovation Ventures. The round also saw significant investments from new investor Fulcrum Global Capital and existing investor Omnivore. This brings Niqo’s total fundraising to $21 million including a $5 million in Series A round from FMC, Omnivore, and Blume Ventures in August 2021 and a $2 million Seed round in 2019. Entrackr exclusively reported about the deal on May 1. Niqo will expand to new markets and accelerate the commercial adoption of spot spray, globally, according to Jaisimha Rao, founder and CEO of the company. Niqo Robotics specializes in crafting compact agricultural robots empowered with AI-driven computer vision technology which claims to reduce costs and increase profitability. It uses a proprietary AI camera with deep learning models to identify and selectively spray on target plants, reducing chemical usage by up to 90%. In 2023-24, Niqo claims to commercialize over 90,000 acres of land and benefiting over 1,800 farmers. While the company is yet to disclose audited FY24 numbers, the nine-year-old firm’s Indian entity largely remained in pre-revenue stage with a revenue of only Rs 1.3 crore during FY23. At the same time, its losses surged 2X to Rs 9.8 crore. As of the latest tranche, Omnivore Partners was the largest external stakeholder in Niqo with 25.7% followed by Brida Innovation and Blume Ventures which commanded 18% and 10.7%, respectively. Check TheKredible for more details. It competes with Zenrobotics, SwarmFarm, and Ecorobotis, among others.

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