Atomgrid Bags Funding To Boost Specialty Chemicals Export

Atomgrid, a company which specialises in manufacturing and sourcing of specialty chemicals, has raised INR 10 Cr (around $1.2 Mn) in a seed funding round led by Merak Ventures.

The round also saw participation from Dexter Ventures, Upsparks, Point One Capital and UniCards’s founders Nitin Gupta and Prateek Jindal.

The startup plans to use the fresh funds to expand its in-house R&D infrastructure, increase global outreach, build a supply chain tech platform and hire teams across business development, research and development, and fulfilment functions.

Founded by IIT-BHU alumni Lakshit Bansal, Siddharth Gupta and Pratik Chowdhury, Atomgrid caters to three sectors – pharmaceuticals, agriculture and specialty chemicals for other needs such as manufacturing. 

It aims to position itself as a hub for specialty chemicals and accelerate exports of such chemicals from India. 

Gupta said, “A massive global speciality chemical market coupled with inefficiencies that we see on a daily basis makes us believe that we are solving the right problem at Atomgrid. With this funding, we are poised to accelerate our mission of empowering Indian chemical manufacturers on a global scale.”

According to the founders, by interacting with over 250 manufacturers they identified significant challenges Indian manufacturers face, including limited access to research and development resources, global distribution networks, efficient raw material sourcing, and technology-driven solutions. These factors contribute to suboptimal capacity utilisation and a restricted presence in the export market.

Recently, many global companies have gradually started showing faith in India’s capabilities to cater to the global demand for raw materials. Similarly, Atomgrid aims to capitalise on the opportunity and transform India into a prominent chemical manufacturing hub.

Citing a market study, the startup stated that currently, China accounts for 15-17% of the world’s exportable specialty chemicals, whereas India accounts for merely 1-2% indicating that the country has a large scope for improvement and widespread opportunity. 

Specialty chemicals is believed to be the next great export pillar in India, with an expected 12.2% CAGR growth.

“As India’s specialty chemicals sector drives industry growth, Atomgrid stands out by maximising underused MSME capacities. More than just filling the demand-supply gap, Atomgrid redefines its role in the supply chain—from mere distributor to vital manufacturing partner,” said Sheetal Bahl, partner at Merak Ventures. 

In December last year, another specialty chemicals manufacturer Scimplifi raised $3.67 Mn from 3one4 Capital and BeeNEXT to fuel its expansion plans, strengthen core teams and scale up expertise in emerging chemistries.