Scimplifi, a platform dedicated to the sourcing and manufacturing of specialty chemicals, has raised $3.67 million in a seed funding round led by global investors 3one4 Capital and BEENEXT, with additional contributions from angel investors with expertise in the chemical and B2B commerce sectors.
What is the purpose of fundraising?
With this round of funding, Scimplifi plans to enhance its core team, focusing on business development, value engineering, and technological advancements.
The startup expansion is not just limited to team growth but also extends to establishing core capabilities in new chemistries, amplifying existing manufacturing capabilities in India, and selecting global markets.
What does Scimplifi do?
Scimplifi operates as an end-to-end B2B fulfilment platform, covering the entire product life cycle from contract research to commercial chemical manufacturing.
The startup said it serves in the pharmaceutical, personal care, and agrochemical industries. Scimplifi is targeting to shift to a 60 per cent export-oriented model within the next year and plans to expand its reach to 20 countries and 4 new categories in chemicals. Additionally, It plans to introduce labs in three more categories to bolster research efforts.
Technology and market Impact
Scimplifi's platform features a technology map showcasing over 100 manufacturing plants involved in multiple chemistries, facilitating the effective connection of buyer demand with the right factories.
The innovation is set against the backdrop of India's growing prominence as a chemical manufacturing hub, projected to reach $150 billion by 2030. Scimplifi's science-first approach and project management system aim to address industry challenges such as fragmented supply chains and R&D limitations.
What does the leadership say about Scimplifi?
Salil Srivastava, Co-founder and CEO of Scimplifi, highlighted the complexity and fragmentation of the $800 billion global specialty chemicals market.
"However, it is complex to bring together the R&D across multiple chemistries, compliances across different markets, and manufacturing from milligram to metric ton scale while providing a world-class service. At Scimplifi, we aim to become a trusted, science-first platform from a concept in a lab to finished product manufacturing for our global customers," said Salil said.
“In the backdrop of robust macro trends within the sector and capabilities across the product life cycle, Scimplifi has made a solid debut. Salil and Sachin have curated a skilled team with a mix of business and technical know-how. We're enthusiastic about partnering with Scimplifi asthey strive to unleash India's potential as a specialty chemical manufacturing powerhouse,” said Akshay Sharma, Vice President, Investments, 3one4 Capital.
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