Sourcing and manufacturing startup for speciality chemicals Scimplify on Thursday announced its $9.5 million Series A funding round led by Omnivore alongside Bertelsmann India Investments. Existing investors 3one4 Capital and Beenext also backed the startup in the round.
The company plans to invest further in research and development and expand to more geographies with the latest round of funding.
Bengaluru-based end-to-end contract manufacturer platform for agrochemicals, pharmaceutical APIs, and flavors & fragrances, Scimplify was founded in 2023 by Salil Srivastava and Sachin Santhosh.
Scimplify offers contract research and commercial chemical manufacturing across various sectors, including agrochemicals, pharmaceutical APIs, and flavors & fragrances.
Speaking on the latest round, Salil Srivastava, Co-Founder of Scimplify said the backbone of Indian specialty chemical manufacturing is mid-sized factories that have built in-depth, chemistry-specific expertise over decades.
“However, there is significant available capacity to double the national output in the next five years with the given infrastructure.”
The company intends to focus on customers worldwide on the back of “increasing demand for new formulations to support the green transition, shifts in global supply chains away from China and towards India, as well as manufacturing incentives from the Indian government,” according to the company statement.
“Scimplify’s science-driven platform delivers affordable, sustainable agrochemicals and green chemistry intermediaries. By streamlining R&D and manufacturing of sustainable formulations, they’re meeting global demands and positioning India as a leader in sustainable manufacturing of chemical intermediaries,” said Mark Kahn, Managing Partner, Omnivore.
The global speciality chemicals market size was more than $800 billion in 2023, with agrochemicals and pharmaceuticals share of over 60 per cent and India being the 2nd largest exporter of agrochemicals worldwide, Scimplify said.
“Scimplify’s unique science, technology & supply-first approach is best suited to leverage the increasing diversification of global supply chains while providing a big boost to the nation’s ‘Made In India’ drive,” said Rohit Sood, Managing Partner, Bertelsmann India Investments.