Scimplify, a platform specializing in the sourcing and manufacturing of specialty chemicals, has successfully secured ₹59 crore (approximately $7 million) in its Series A funding round from both new and returning investors.
The Scimplify board has approved the issuance of 17,514 Series A Compulsory Convertible Preference Shares (CCPS) at an issue price of ₹33,676 each to achieve the ₹59 crore ($7 million) target, as indicated in its regulatory filing with the Registrar of Companies.
Omnivore led this round with an investment of ₹24.7 crore, while 3One4 Capital, Beenext Asia, and Bertelsmann contributed ₹13.56 crore, ₹5.6 crore, and ₹14.82 crore, respectively.
Scimplify, founded in 2023 by Salil Srivastava and Sachin Santhosh, has accumulated around $11 million in total funding, including a $3.67 million seed round from 3one4 Capital and Beenext last year. According to data from TheKredible, the company’s valuation stands at approximately ₹320 crore ($39 million) following this latest allotment.
Operating out of Bengaluru, Scimplify is a B2B fulfillment platform that spans the entire product life cycle, from contract research to commercial chemical manufacturing, serving sectors such as pharmaceuticals, personal care, and agrochemicals. The platform provides a range of products including emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers.
In the competitive landscape, Scimplify faces competition from Atomgrid, which raised $1.2 million in its seed round led by Merak Ventures, and Covvalent, another prominent player, which secured $4.3 million in funding led by Nexus Venture Partners.
