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

EntrackrEntrackr · 11m 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.

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