Scimplify raises $40M to help manufacturers access specialty chemicals

Scimplify, an Indian startup that helps pharmaceutical and agriculture companies access a range of specialty chemicals, has raised $40 million in a new funding round co-led by Accel and Bertelsmann Investments to widen its footprint in the U.S. and reach new markets. The Series B round pegs Scimplify’s valuation at about $150 million post-money, the company said. Specialty chemicals are vital for manufacturing in many industries, but access is still a problem, as manufacturers of these chemicals are scattered across the world. Companies have mostly relied on Chinese suppliers to source such chemicals, but geopolitical tensions are increasingly pushing manufacturers to look for alternatives in other regions. Moreover, customers often find it hard to find a specific chemical if they are looking for a particular reactor, chemistry, or compliance such as U.S. FDA or GMP. Scimplify aims to connect manufacturers with specialty chemical makers using its platform, ATOMS, which lists special ... Read full article.