Speciality Chemical Startup Scimplify Bags $40 Mn From Accel, Others

Speciality chemical manufacturing startup Scimplify has secured $40 Mn (around INR 348 Cr) in a Series B funding round co-led by Accel and Bertelsmann Investments. 

The round also saw participation from UMI and existing investors, including Omnivore and 3one4 Capital. Scimplify says it has raised $54 Mn in total funding till date.

The Bengaluru-based startup looks to deploy the fresh proceeds to expand its presence in overseas markets and enhance its platform.

“This fresh capital will accelerate Scimplify’s export expansion beyond the 16 countries it currently serves, while also strengthening its presence in key industries such as life sciences, crop sciences, and industrial chemicals,” the startup said in its statement. 

Founded in 2023 by Santosh and Salil Srivastava, Scimplify is a B2B platform that specialises in end-to-end sourcing and manufacturing of speciality chemicals. 

The startup claims to offer comprehensive solutions for the global specialty chemical industry with an emphasis on green manufacturing, quality and innovation. Its services include contract research and commercial chemical manufacturing across sectors as well as agrochemicals, active pharmaceutical ingredients, and flavours and fragrances. 

“Over the past year and a half, we have built great momentum and with Accel coming into this partnership, we remain steadfast in building a global R&D led manufacturing company that brings a new age approach to the modern customer,” said Srivastava on recent funding. 

Scimplify already engages in cross-border trade with countries, including New Zealand, the UAE, Egypt, Vietnam, Jordan and Taiwan. Scimplify has a manufacturing network of over 150 factories and operates in more than 15 countries.

The startup last raised Series A funding in August last year. At that time, it bagged $9.5 Mn in a round led by Omnivore and Bertelsmann India Investments, along with participation from existing investors 3one4 Capital and BEENEXT. 

Also, in October last year, Mstack raised $40 Mn in its Series A funding co-led by Lightspeed and Alphawave to expand its footprint in North America and regions like Latin America, the Middle East, and Asia. 

Weeks after that, cross-border specialty chemicals distribution startup Elchemy bagged $5.6 Mn in Series A funding led by Prime Venture Partners. 

As per Inc42’s Indian Tech Startup Funding Report, 2024, the startups have raised over $12 Bn across 993 deals, marking a 20% increase compared to 2023. It is projected that the tech startup funding will jump to $15 Bn in 2025, reflecting a 25% increase from 2024 levels.