Scimplify Secures $9.5 Million in Series A Funding Led by Omnivore and Bertelsmann India Investments
- ByStartupStory | August 9, 2024
Specialty chemical manufacturing startup Scimplify has successfully raised $9.5 million in a Series A funding round. The round was led by Omnivore, with participation from Bertelsmann India Investments and existing investors 3one4 Capital and Beenext.
Founded in 2023 by industry veterans Salil Srivastava and Sachin Santhosh, Scimplify has quickly established itself as a key player in India’s specialty chemicals sector. The company provides a science-first, end-to-end contract manufacturing platform that caters to agrochemicals, pharmaceutical APIs, and flavors & fragrances.
In 2023, the global specialty chemicals market was valued at over $800 billion, with agrochemicals and pharmaceuticals contributing to more than 60% of the market. India, being the second-largest exporter of agrochemicals globally, is set to witness a surge in chemical production, with projections indicating a doubling of output by 2027. Scimplify’s services span contract research and commercial chemical manufacturing, and the startup is strategically positioned to capitalize on increasing global demand, particularly amid the shift in supply chains from China to India and government-backed manufacturing incentives.
Co-Founder Salil Srivastava highlighted the significance of the Indian specialty chemicals market, stating, “The backbone of Indian specialty chemical manufacturing are mid-sized factories that have built in-depth, chemistry specific expertise over decades. However, there is significant available capacity to double the national output in the next 5 years with the given infrastructure. Scimplify brings together unique products to these factories using cutting edge R&D along with consistent demand from global customers to utilize these capacities and provide a tech-enabled, full-stack offering to the modern agile customer.”
Mark Kahn, Managing Partner of Omnivore, expressed his confidence in Scimplify’s mission, saying, “Scimplify’s science-driven platform delivers affordable, sustainable agrochemicals and green chemistry intermediaries. By streamlining R&D and manufacturing of sustainable formulations, they’re meeting global demands and positioning India as a leader in sustainable manufacturing of chemical intermediaries. Their approach satisfies regulatory requirements, consumer needs, and environmental concerns, elevating industry standards.”
Rohit Sood, Managing Partner of Bertelsmann India Investments, added, “We are excited to partner with Salil & Sachin on their venture to create value in the specialty chemicals industry through a full stack approach. Their unique science, technology & supply-first approach is best suited to leverage the increasing diversification of global supply chains while providing a big boost to the nation’s ‘Made In India’ drive.”
Scimplify, based in Bengaluru, was founded by Salil Srivastava and Sachin Santhosh. Salil, who previously led the chemicals vertical at Zetwerk, started his career at ITC Limited, while Sachin, an IIT-Madras alumnus, was earlier with Bizongo and began his career with OfBusiness. Together, they launched Scimplify to offer comprehensive solutions for the global specialty chemical industry, focusing on green manufacturing, quality, and innovation.
With the fresh capital infusion, Scimplify plans to enhance its R&D capabilities and expand its presence in new geographies, particularly in regions where key customer segments are located.
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