Speciality chemicals’ sourcing and manufacturing platform Scimplifi said it has secured $3.67 million in funding from institutional investors 3one4 Capital and Beenext, according to ETtech report.
Angel investors with expertise in the chemical industry and business-to-business commerce also participated in the funding round.
The startup said it would use the funds to expand the core team on the business, value engineering, and technology front, a statement said.
Scimplifi said it is targeting to shift to a 60% export-oriented model within the next year and plans to expand its reach to 20 countries and four new chemical categories. In addition, the company aims to add labs in three more categories to support research.
Founded by Salil Srivastava and Sachin Santhosh, Scimplifi is an end-to-end B2B fulfilment platform operating in the product lifecycle from contract research to commercial chemical manufacturing across industries such as pharmaceutical, personal care, and agrochemicals.
“Globally, manufacturing supply chains are shifting in India’s favour like never before. However, it is complex to bring together the R&D across multiple chemistries, compliances across different markets, and manufacturing from milligram to metric tonne scale. We aim to become a trusted, science-first platform from a concept in a lab to finished product manufacturing,” said Srivastava, cofounder and CEO of Scimplifi.
“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,” said Akshay Sharma, vice president, investments, 3one4 Capital.
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