We are discussing Scimplify, a Specialized Chemical Startup to Raise $5 Million in a Round Led by Omnivore:
Scimplify is a platform for manufacturing specialized chemicals that has raised $5 million. A person close to the deal told Entrackr that Omnivore would lead the round while existing investors planned to double their investment. The startup provides a science-first B2B platform to develop and offer affordable and reliable chemical solutions.
This startup, founded by Sachin Santhosh and Salil Srivastava, develops, manufactures, and provides chemical manufacturing across industries, including agrochemical, pharmaceutical, and personal care. The company plans to expand its market to over 20 countries with four new chemical categories. The company aims to use this platform in response to the growing demand for specialized chemical solutions.
The company currently operates in Gujrat, Hyderabad, and Karnataka. After this round, the startup is predicted to have a $20 to $25 million valuation. The investment of impact venture capital firm Omnivore shows their trust in the startup’s market potential and market growth. The startup offers specialized chemicals for plant growth, emulsifiers, biostimulants, biofertilizers, and adjuvants.
The startup data intelligence platform, The Kredible, mentioned that 3one4 is the largest stakeholder of the company with a 17% stake, followed by Beenext with a 7% stake, and co-founders Sachin Santhosh and Salil Srivastava own a 65% stake in the company.
Omnivore will make around 30 investments with $150 million in seed and series A rounds with the participation of startups, including Ecozen, Aquaconnect, DeHaat, Arya, Stellapps, and Pixxel. The fresh proceeds from this round will be used to build specialized solutions for the enhanced platform, team expansion, and scaling up operations to increase the platform’s performance capability.
This specialized chemical is predicted to increase; last month, Merak Ventures, a B2B Venture Capital Firm, invested Rs 10 crore in Atomgrid’s Seed fund. The startup competes with Atomgrid and Covvalent.
Conclusion
Specialized chemical manufacturing platform Scimplify plans to raise $5 million in a round with existing and new investors. The round will be led by Omnivore while existing investors plan to double their investment. The startup provides a science-first B2B platform to develop and offer affordable and reliable chemical solutions.
The startup develops, manufactures, and provides chemical manufacturing across agrochemical, pharmaceutical, and personal care industries. The company plans to expand its market to over 20 countries with four new chemical categories. After this round, the startup is predicted to have a $20 to $25 million valuation.
The company aims to use this platform in response to the growing demand for specialized chemical solutions. After this round, 3one4 is predicted to be the company’s largest stakeholder with a 17% stake, followed by Beenext with a 7% stake, and co-founders Sachin Santhosh and Salil Srivastava own a 65% stake. The specialized chemical market is predicted to grow more in the next few years. In the past few months, specialized chemical platforms, including Atomgrid, have secured huge amounts of funding.
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