A $5 million investment round is about to be launched by Scimplify, a Bengaluru-based business that specializes in the procurement and production of specialty chemicals. This new round of cash was provided to the company just six months after its last funding round.
Insiders with knowledge of the situation say that Omnivore is spearheading the most recent round of funding, and that previous investors are demonstrating a great desire to participate by increasing their investments. In December of the previous year, Scimplify had raised $3.67 million in its seed round from well-known investors like 3one4 Capital and Beenext.
Salil Srivastava and Sachin Santhosh co-founded Scimplify, which serves a range of industries such as agrochemicals, personal care, and pharmaceuticals as a full business-to-business (B2B) fulfillment platform. The business provides end-to-end services for the full product lifecycle, from commercial manufacturing to contract research.
Scimplify has stated during its prior funding campaigns that it intended to diversify into four new chemical categories and expand its operations to 20 countries. The company currently has production plants in Gujarat, Hyderabad, and Karnataka, among other strategic places. Given the confidence investors have in Scimplify’s future prospects, the upcoming sale is likely to value the company between $20 and $25 million.
The strategic significance of Scimplify’s offerings in meeting essential needs within the agricultural value chain is shown by Omnivore’s considerable interest in the company’s product portfolio, especially in the agrochemical industry.
In the specialized chemicals sector, Scimplify is up against competitors like Atomgrid and Covvalent, all of whom are fighting for a piece of this quickly growing market. With Omnivore and other key investors on board, Scimplify is well-positioned to take advantage of new opportunities and propel innovation and long-term growth in the specialty chemicals sector.
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