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Specialty chemical startup Scimplify raises $9.5 million from Omnivore, others
Economic Times
·
1y ago
Medial
Bangalore-based specialty chemical manufacturing startup Scimplify has secured $9.5 million in a Series A funding round led by Omnivore. The company plans to use the funding to boost its research and development capabilities and expand into new markets. Founded in 2023, Scimplify operates as a business-to-business fulfillment platform, offering end-to-end sourcing and manufacturing of specialty chemicals for industries such as pharmaceuticals, agrochemicals, and personal care. The global specialty chemicals market was valued at over $800 billion in 2023, with agrochemicals and pharmaceuticals accounting for more than 60% of the market.
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Scimplify, Metadome.ai nab Series A cash; FlexiBees gets IPV’s backing
VCCircle
·
1y ago
Medial
Specialty chemical manufacturing startup Scimplify and extended reality startup Metadome.ai have raised Series A funding, while women-focused talent marketplace startup FlexiBees has received pre-Series A funding. Scimplify raised $9.5 million led by VC firm Omnivore, Metadome.ai secured $6.5 million led by Siana Capital, and FlexiBees raised an undisclosed amount led by Inflection Point Ventures. The funding will be used to expand operations, enhance R&D capabilities, increase market presence, and improve technological infrastructure.
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Exclusive: Speciality chemicals startup Scimplify to raise $5 Mn
Entrackr
·
1y ago
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.
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Accel, Bertelsmann India co-lead Scimplify’s Series B round
VCCircle
·
4m ago
Medial
Specialty chemical manufacturing startup Scimplify secured $40 million in a Series B funding round, co-led by Accel and Bertelsmann India Investments, alongside UMI and existing backers like Omnivore. The funds aim to enhance Scimplify’s platform, enabling expansion in 16 countries while bolstering its offerings in life sciences, crop sciences, and industrial chemicals. Founded in 2023, the company integrates scientific expertise and a manufacturing network to streamline global supply chains and offer flexible, cost-efficient production solutions.
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Specialty chemicals startup Scimplify raises $40 Mn in Series B round
Entrackr
·
4m ago
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.
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Exclusive: Scimplify scoops up $7 Mn in Series A led by Omnivore
Entrackr
·
1y ago
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.
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VC-backed Scimplify looks to raise more capital after netting Series B
VCCircle
·
2m ago
Medial
Scimplify, a specialty chemical manufacturing startup backed by Accel and Bertelsmann India Investments, is seeking to raise additional capital for inorganic growth following its recent Series B funding. The Bengaluru-based company, operated by Cocreate Global Technologies, aims to expand its operations and enhance its market presence. This move comes as part of Scimplify's strategic efforts to leverage its success in securing previous venture capital funding, positioning itself for further development and industry impact.
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Specialty chemical startup Mstack raises $40 million from Lightspeed, Alpha Wave, others
Economic Times
·
10m ago
Medial
- Specialty chemical startup Mstack secures $40 million in funding round led by Lightspeed Venture Partners and Alpha Wave Global - Funding includes a debt facility from HSBC Innovation Banking and participation from other angel investors - Mstack plans to utilize the funds for strengthening R&D efforts, building a leadership team, expanding talent base, and scaling operations in Middle East, South America, and Asia - The company operates a custom manufacturing platform to help buyers source specialty chemicals from a tech-enabled network of capacities in low-cost production countries - Mstack offers a wide range of specialty chemicals in sectors such as oil and gas, coatings, water treatment, home and personal care, with plans to expand into agrochemicals and pharmaceuticals - The specialty chemicals sector is attracting investor interest due to the increasing demand for chemical solutions across various industries.
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ETtech Deals Digest: Startup funding plummets 49% YoY to $108 million this week
Economic Times
·
12m ago
Medial
Startups raised $108.4 million in funding between August 3 and August 9, which is a 48.9% decline compared to the same period last year. There were 17 funding rounds this week, down from 26 rounds last year. Notable deals include Visit Health raising $30 million, Agrizy raising $9.8 million, Scimplify raising $9.5 million, and Kindlife.in raising $8 million.
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Elchemy secures $5.6 million in funding Prime Venture Partners, others
Economic Times
·
8m ago
Medial
Cross-border specialty chemical distribution platform, Elchemy, has secured $5.6 million in a funding round led by Prime Venture Partners. The Mumbai-based startup plans to use the funds to expand its team in the US, strengthen its technology leadership, and invest in advanced supply chain visibility solutions. Elchemy simplifies the process of sourcing specialty chemicals from India and Southeast Asia for international buyers, facilitating supplier discovery, product quality assurance, and end-to-end fulfillment. The company aims to acquire 100 customers from the North American market over the next year.
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Niqo Robotics Bags $13 Mn To Offer AI-Powered Spraying Services
Inc42
·
1y ago
Medial
Bengaluru-based agritech startup, Niqo Robotics, has closed its Series B funding round at $13 million. The round was conducted in two tranches, with the participation of Bidra Innovation Ventures, Fulcrum Global Capital, and existing investor Omnivore. Niqo Robotics offers agrochemical spraying services using precision spot spray technology, reducing chemical usage by up to 90%. The startup has commercialised over 90,000 acres, resulting in real-time chemical savings of up to 60% and benefitting over 1,800 farmers. Niqo Robotics plans to expand into new markets and accelerate the global adoption of spot spray technology.
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