Scimplify, an Indian startup that helps pharmaceutical and agriculture firms entry a spread of specialty chemical compounds, has raised $40 million in a brand new funding spherical co-led by Accel and Bertelsmann Investments to widen its footprint within the U.S. and attain new markets.
The Series B spherical pegs Scimplify’s valuation at about $150 million post-money, the corporate mentioned.
Specialty chemical compounds are important for manufacturing in lots of industries, however entry continues to be an issue, as producers of those chemical compounds are scattered the world over. Companies have principally relied on Chinese suppliers to supply such chemical compounds, however geopolitical tensions are more and more pushing producers to search for alternate options in different areas. Moreover, clients typically discover it exhausting to discover a particular chemical if they’re on the lookout for a selected reactor, chemistry, or compliance equivalent to U.S. FDA or GMP.
Scimplify goals to attach producers with specialty chemical makers utilizing its platform, ATOMS, which lists specialty chemical compounds from over 5,000 factories run by over 200 producers throughout 10 international locations together with India, China, Vietnam, Egypt, and Japan. The startup primarily targets prescription drugs, agriculture, and business.
The startup vets producers, will get them audited by third-parties semi-annually, and segregates them based mostly on their geography, chemistry, capability, and compliance. It additionally process-engineers present chemical compounds to make them cost-effective and related for various use instances.
Scimplify has to date served 600 clients throughout greater than 16 international locations worldwide, co-founder Sachin Santhosh instructed TechCrunch.
Unlike different marketplaces, Santhosh mentioned, Simplify additionally provides made-to-order chemical compounds by working with chemical producers, and lets clients simply change from one recipe to a different utilizing its producer community.
Before Scimplify, Santhosh labored on the B2B startups Bizongo and OffBusiness, each of which helped streamline procurement and provide chain processes for companies. His co-founders, Salil Srivastava and Dheeraj Dhingra, each beforehand labored at manufacturing provide chain firm Zetwerk.
The startup plans to make use of the recent money to scale its presence geographically, cater to new business segments, and improve R&D. Scimplify has subsidiaries in Dubai and Indonesia, and is seeking to arrange workplaces within the U.S. and Japan. It has a crew of 150 folks.
It’s now contemplating buying one or two chemical factories to unlock new varieties of shoppers and controlled markets, Santhosh instructed TechCrunch.
The Series B additionally noticed participation from UMI and present traders, Omnivore and 3one4 Capital. The firm has raised funding of $54 million to date since its inception in 2023.
