New Delhi, March 12 -- Specialty chemical manufacturing startup Scimplify has raised $40 million (about Rs 350 crore) in its Series B funding round co-led by venture capital firms Accel and Bertelsmann India Investments.
The funding round also saw participation from UMI and existing investors including Omnivore and 3one4 Capital.
With this round, Scimplify's total funding stands at $54 million, including its seed and Series A rounds. The company also counts Ashish Mohapatra and Ruchi Kalra from OfBusiness, Amrit Acharya and Srinath Ramakkrushnan from Zetwerk, former ITC Agri Business CEO Rajnikant Rai and Capria Ventures partner Sanjiv Rangrass as its investors.
The company plans to use the fresh funding to scale its platform and expand its global footprint. It will use the capital to accelerate export expansion beyond the 16 countries it currently serves, while also strengthening its presence in key industries such as life sciences, crop sciences, and industrial chemicals.
Scimplify was co-founded in mid-2023 by Salil Srivastava, Sachin Santhosh and Dheeraj Dhingra. It claims that it is addressing gaps such as fragmented supply chains and limited access to R&D expertise in the chemical industry by offering an end-to-end manufacturing ecosystem.
"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 requirements," said Srivastava.
The company says it combines in-house scientific expertise with a network of over 200 specialized manufacturing plants across cost-efficient regions in India. Its plug-and-play model allows global buyers to access India's cost-efficient production capabilities without the burden of setting up dedicated manufacturing facilities, it said in a release.
It caters to leading innovators and manufacturers across life sciences, crop sciences, and industrial chemicals in major markets including the US, Europe, and Japan.
"The global supply chain for specialty chemicals is at an inflection point. Traditional manufacturing supply chains lack the flexibility required in today's geopolitical environment as well as the rapid changes in end customer requirements," said Rachit Parekh, principal at Accel.
"Scimplify is building an R&D led global manufacturing network which allows for flexibility coupled with innovation. At Accel, we have had a longstanding thesis that R&D led speciality chemical companies which take advantage of the deep pool of manufacturing capabilities in India and globally can create global giants," Parekh added.
Published by HT Digital Content Services with permission from VC Circle.