Scimplify, a specialty chemicals startup from banglore ,is raising a new round to the tune of $5 million .
“Omnivore is leading $5 million in Scimplify while existing backers will also double down,” said one of the sources requesting anonymity.Scimplify raised $3.67 million in its seed round from 3one4 Capital and Beenext in December last year.
Founded by Salil Srivastava and Sachin Santhosh, IT is a b2b fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries such as pharmaceutical, personal care, and agrochemical.
New investment also see, participation from existing investors, is expected to value Scimplify at between $20 million and $25 million. Investment is driven by Omnivore’s interest in Scimplify’s agrochemical product portfolio. According to the company’s website, it offers emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others.
In June 2023, impact venture capital firm Omnivore announced the first close of its third fund at $150 million to make 25-30 new investments in seed and Series A rounds. Some of its portfolio companies include DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel.
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