Scimplify to boost R&D and global expansion with $40 million Series B funding – CNBC TV18

Scimplify, a specialty chemical sourcing and manufacturing platform, is ramping up its analysis and growth (R&D) efforts following a $40 million Series B funding spherical. The funding, co-led by Accel and Bertelsmann India Investments, can even help the corporate’s worldwide expansion and income development.

A good portion of the recent funds will likely be directed towards increasing Scimplify’s R&D amenities. “We’re increasing the lab amenities that we have now. We’re additionally working with third-occasion R&D amenities, the place we are going to convey a wider providing of applied sciences and R&D capabilities to prospects,” stated Sachin Santhosh, Co-Founding father of Scimplify.

Scimplify can be eyeing speedy global expansion. The corporate plans to set up places of work and groups in six international locations over the subsequent 12 months whereas additionally leveraging channel partnerships to enter new markets.

The corporate has seen its income leap fourfold up to now 12 months. The corporate expects to keep a robust development trajectory, concentrating on a 30-40% quarter-on-quarter improve. “If we’re on monitor, then within the subsequent 12 to 15 months, we must be shut to $100 million in annualised revenues,” Santhosh added.

Initially targeted on India, Scimplify now serves purchasers throughout 16 international locations in sectors reminiscent of oil and gasoline chemical substances, water remedy, and textile chemical substances. “We’re seeing a whole lot of new industries displaying curiosity, however the core worth stays the identical—serving to prospects go to market quicker with new merchandise and navigate provide chain shifts effectively,” he defined.

Santhosh highlighted India’s potential within the global specialty chemical substances market, the place it at present holds only a 6% share. “Regardless of India having finest-in-class manufacturing and scientific capabilities, bigger gamers like China dominate with round 50% market share. The following 5 years will likely be essential in reshaping global provide chains,” he stated.

Watch accompanying video for complete dialog.