August 11, 2024: Scimplify, a Bengaluru-based startup specializing in specialty chemical manufacturing, has raised $9.5 million in a Series A funding round to enhance the company’s research and development (R&D) capabilities and expand its global presence.
Founded in 2023 by Salil Srivastava and Sachin Santhosh, Scimplify a full-stack platform driving innovation from R&D to commercial manufacturing and everything in between aims to revolutionize the specialty chemicals industry by offering a comprehensive contract manufacturing platform.
The firm caters to various sectors, including pharmaceutical APIs and agrochemicals. Srivastava, who previously led the chemicals division at Zetwerk, and Santhosh, an IIT-Madras alumnus with experience at Bizongo, have positioned Scimplify as a key player in this field.
The company’s focus is on combining advanced R&D with global demand to optimize manufacturing capacities. “The backbone of Indian specialty chemical manufacturing consists of mid-sized factories with decades of expertise. However, there is significant potential to double the national output in the next five years with the existing infrastructure,” said Srivastava. “Scimplify integrates unique products with cutting-edge R&D to meet global needs and provide a tech-enabled, full-stack solution.”
Scimplify Science-Drive Platform to deliver Sustainable agro, green chemistry intermediaries
Omnivore’s Managing Partner, Mark Kahn, emphasized the impact of Scimplify’s approach. “Scimplify’s science-driven platform delivers sustainable agrochemicals and green chemistry intermediaries. By streamlining R&D and manufacturing, they address global demands while promoting India as a leader in sustainable chemical production,” Kahn stated.
Bertelsmann India Investments’ Managing Partner, Rohit Sood, added, “We are excited to support Salil and Sachin’s venture. Their innovative, technology-driven approach aligns well with the diversification of global supply chains and the ‘Made in India’ initiative.”
The global specialty chemicals market, valued at around $641.5 billion in 2023, is projected to reach $914.4 billion by 2030, according to Grand View Research. Scimplify’s new funding will play a crucial role in capturing this growing market and driving the company’s strategic expansion efforts.
This investment was led by Omnivore and supported by Bertelsmann India Investments, 3one4 Capital, and Beenext.
