Specialty chemical startup Scimplify raises $40 million in Series B funding from Accel, Bertelsmann

Specialty chemical startup Scimplify raises $40 million in series B funding from Accel, Bertelsmann India Investments

Scimplify, a full-stack platform for specialty chemicals, has raised $40 million in Series B funding to scale its platform and expand its global footprint. The round was co-led by Accel and Bertelsmann India Investments with participation from UMI and existing investors including Omnivore and 3one4 Capital.

Moneycontrol, in January, was the first to report that Scimplify was in advanced stages of raising $30 million from Accel and 3one4 Capital, among others.

To date, Scimplify has raised a total of $54 million in funding across is seed and series A rounds.

This fresh capital will accelerate Scimplify’s export expansion beyond the 16 countries it currently serves, while also strengthening its presence in key industries such as life sciences, crop sciences, and industrial chemicals.

“We started Scimplify with the vision of bringing the massive power of highly specialized manufacturing capabilities in India to a global base of customers,” said Salil Srivastava, co-founder at Scimplify.

“As global supply chains undergo rapid shifts, customers are actively seeking reliable partners who can provide enterprise-grade R&D and comprehensive solutions for their specialty chemical manufacturing requirements. Over the past year and a half, we have built great momentum and with Accel coming into this partnership, we remain steadfast in building a global R&D led manufacturing company that brings a new age approach to the modern customer,” he added.

Founded in mid-2023, Scimplify’s co-founders include Srivastava, Dheeraj Dhingra, and former OfBusiness executive Sachin Santhosh. The company offers end-to-end supply chain services to businesses by leveraging its network of 200 specialized manufacturing plants across the country.

The company’s plug-and-play model allows global buyers to access India’s cost-efficient production capabilities without the burden of setting up dedicated manufacturing facilities, the company said in a statement.

“Scimplify is building an R&D led global manufacturing network which allows for flexibility coupled with innovation. At Accel, we have had a long standing thesis that R&D led speciality chemical companies which take advantage of the deep pool of manufacturing capabilities in India and globally can create global giants. We have been following the Scimplify journey from day 0 and their execution has been impressive,” said Rachit Parekh, Principal at Accel.

Scimplify is among several other startups founded by former executives at manufacturing startup Zetwerk that have been in talks to raise funds. Firms like CBCatalyst, and Sanlayan are also engaging with venture capital firms to raise funding.

Rohit Sood, Partner at Bertelsmann India Investments said: “We are excited to significantly double down on our commitment to Scimplify, after our initial investment last year. Their execution on the ground has been among the best we’ve seen, driving not just impressive topline growth but also a rapid multi-country export scale-up and the establishment of a cutting-edge R&D facility in Hyderabad."