Scimplify, a Bengaluru-based startup specializing in the sourcing and manufacturing of specialty chemicals, is gearing up to raise a new round of funding amounting to $5 million. This fresh injection of capital comes just six months after the company’s previous funding round.
According to insiders familiar with the matter, Omnivore is leading this latest funding round, with existing investors also showing strong interest by doubling down on their investments. Scimplify had previously secured $3.67 million in its seed round from prominent investors such as 3one4 Capital and Beenext in December of the preceding year.
Co-founded by Salil Srivastava and Sachin Santhosh, Scimplify operates as a comprehensive business-to-business (B2B) fulfillment platform, catering to various industries including pharmaceuticals, personal care, and agrochemicals. The company offers end-to-end solutions spanning the entire product lifecycle, from contract research to commercial manufacturing.
During its previous fundraising efforts, Scimplify had outlined ambitious plans for expansion, aiming to extend its operations to 20 countries and diversify into four new chemical categories. Presently, the company boasts manufacturing facilities in key locations such as Karnataka, Hyderabad, and Gujarat. The impending deal is expected to value Scimplify within the range of $20-25 million, indicative of the confidence investors have in the company’s growth prospects.
Omnivore’s keen interest in Scimplify’s product portfolio, particularly in the agrochemical sector, underscores the strategic significance of the company’s offerings in addressing critical needs within the agricultural value chain.
Scimplify faces competition from peers such as Atomgrid and Covvalent in the specialty chemicals space, each vying for a share of this rapidly expanding market. With the support of Omnivore and other strategic investors, Scimplify is poised to capitalize on emerging opportunities, driving innovation and sustainable growth within the specialty chemicals industry.