World Requires an Innovative Chemicals Provider, According to Scimplify's Perspective
Bloody hell, the global chemicals biz is facing a massive shake-up, and one company hoping to cash in on the chaos is Scimplify. These bloody pioneers just announced they've bagged a cool $40 mil in investments during a Series B funding round.
Sachin Santhosh, one of the co-founders of this Indian company, spills the beans about their asset-light approach. “We're a specialty chemicals manufacturer, mates,” he says, “We work with businesses in life sciences, crop nutrition, cosmetics, and industrial chemicals."
Scimplify's secret sauce lies in their three main pillars: research and development (R&D), manufacturing, and distribution. They've locked down relationships with over 200 chemicals manufacturers scattered across Asia. When a customer places an order, they delegate it to manufacturers based in Asia to produce. Sometimes, they're replacing old suppliers, while other times, they're on the hunt for novel chemicals, requiring innovative manufacturers.
Santhosh explains the international shift away from reliance on Chinese exports. "Many organizations have found it bloody problematic to rely on China for their chemicals manufacturing," he says. Fortunately, there are plenty of small, specialist manufacturers in India that offer a decent bang for the buck. The challenge lies in finding them and negotiating contracts.
Scimplify takes full ownership of their customers' orders. Initially, they considered a marketplace model to match buyers and sellers, but Santhosh realized customers needed more than just a broker. They wanted depth and technical expertise, so Scimplify focused on building those capabilities.
Their decision to invest in R&D has paid off, with sales growing quickly and international expansion on the horizon. They've already established a presence in 16 countries and aim to double down on international expansion, primarily in the US, Japan, and the United Arab Emirates. They'll also beef up their R&D teams in the coming months.
"Global supply chains are bloody well shifting," Santhosh declares. Scimplify aims to capitalize on this trend, aiming to become an R&D-led global manufacturing network that can flex and innovate according to market needs.
Investors seem bloody impressed with this vision. The latest funding round was led by Accel and Bertelsmann India Investments, with support from UMI and existing investors Omnivore and 3one4 Capital. Rachit Parekh, principal at Accel, sums it up: “Traditional manufacturing supply chains lack the flexibility required in today's geopolitical environment; Scimplify is building a bloody revolutionary R&D-led global manufacturing network."
All told, the company has raised $54 million since its launch. Let's hope they can keep the ball rolling with this revolutionary approach to the chemicals industry. And remember, in this ever-changing world, adapt or be left behind.
Entrepreneurs at Scimplify, with their strategy shift, are aiming to simplify the global chemicals business, diversifying from reliance on Chinese exports. To achieve this, they are raising funds – as evident in their recent $40 million Series B fundraising – led by Accel and Bertelsmann India Investments, with support from UMI and existing investors Omnivore and 3one4 Capital. Their goal is to become an R&D-led global manufacturing network, offering reliability and innovation.