Scimplify, a startup in specialty chemical manufacturing has secured USD 9.5 million in Series A funding. Bertelsmann India Investments, Omnivore, 3one4 Capital and Beenext lead the round.
Agrochemicals and pharmaceuticals accounted for over 60% of the worldwide specialty chemicals market in 2023, when it was estimated to be worth over USD 800 billion. Interestingly, India is the world’s second-largest exporter of agrochemicals, and by 2027, the country’s chemical industry will double its output.
The wide range of services offered by Scimplify includes commercial chemical manufacture and contract research in a number of industries including comprising flavorings and fragrances, medicinal APIs, and agrochemicals.
“The backbone of Indian specialty chemical manufacturing are mid-sized factories that have built in-depth, chemistry-specific expertise over decades,” said Salil Srivastava, co-founder of Scimplify. With the current infrastructure, there exists a considerable potential to double the country’s output within the next five years. In order to make use of these capacities and give a tech-enabled, full-stack offering to the modern agile consumer, Scimplify puts together unique goods to these factories employing state-of-the-art research and development in tandem with steady demand from global customers.” “We are excited to partner with Salil & Sachin on their venture to create value in the specialty chemicals industry through a full stack approach,” stated Bertelsmann India Investments Managing join Rohit Sood. Their distinctive supply-first, science, and technology approach is well-suited to capitalize on the growing variety of global supply chains and significantly strengthen the country’s “Made in India” campaign.