Scimplify, a leading platform for sourcing and manufacturing speciality chemicals, has raised Rs 59 crore (approximately $7 million) in its Series A funding round. The investment round saw participation from both new and existing investors, marking a significant milestone in the company’s growth journey.
The board at Scimplify approved a special resolution to issue 17,514 Series A Compulsorily Convertible Preference Shares (CCPS) at an issue price of Rs 33,676 each, aggregating Rs 59 crore or $7 million, according to a regulatory filing with the Registrar of Companies.
Omnivore spearheaded the funding round with an investment of Rs 24.7 crore, while 3One4 Capital, Beenext Asia, and Bertelsmann contributed Rs 13.56 crore, Rs 5.6 crore, and Rs 14.82 crore, respectively.
Scimplify has raised approximately $11 million, including a $3.67 million seed round from 3one4 Capital and Beenext last year. Founded in 2023 by Salil Srivastava and Sachin Santhosh, the Bengaluru-based startup operates as a B2B fulfillment platform, catering to various industries such as pharmaceuticals, personal care, and agrochemicals. The platform spans the entire product life cycle, from contract research to commercial chemical manufacturing.
Scimplify’s product offerings include emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others, positioning it as a comprehensive solution provider in the speciality chemicals sector. The company faces competition from Atomgrid, which raised $1.2 million in a seed round led by Merak Ventures in May, and Covvalent, which secured $4.3 million in funding led by Nexus Venture Partners.
With the new capital infusion, Scimplify aims to expand its operations further, enhance its product offerings, and solidify its position in the market, driving innovation and growth in the specialty chemicals industry.
