Chemicals startup Scimplify raises $25 million, revenue grows 3-fold

    “Scimplify” has raised $25 million (about 42.5 million manats) to expand the production of specialty chemicals and materials essential to industry. The strategic investment was made in exchange for equity in the company. The round was led by “Hitachi Ventures,” with “Henkel” and “Teknor Apex” also joining as new investors. Founded in 2023, the Indian startup is increasing its focus on the semiconductor, defense, and energy sectors. The company aims to reduce manufacturers’ dependence on supplies from China.    According to a source familiar with the matter, the investment brought Bengaluru-based “Scimplify” startup’s valuation to $250 million (about 425 million manats). The startup did not disclose the valuation itself. The company had raised $40 million in a Series B round in March 2025. That amount was equivalent to about 68 million manats. Following that round, the company was valued at $150 million (about 255 million manats). To date, it has raised a total of $80 million (about 136 million manats) in equity funding.    After receiving an order from a customer, “Scimplify” develops the production method at its research centers in Bengaluru and Hyderabad. The process is then transferred to partner plants for large-scale production. The AI-powered “Scinode” platform selects the appropriate production method and plant. The system also monitors product quality and regulatory compliance. Using this approach, the startup has completed some orders in 2 months. Such work usually takes 12-18 months.    The company’s scientists and engineers oversee the process across a network connecting more than 500 manufacturing facilities. Approximately 90 percent of production takes place in India. “Scimplify” plans to expand its network of partner plants in the US and Japan over the next 1 year. By doing so, the startup aims to win new customers in both markets and create an alternative to supplies concentrated in China.    “Scimplify” startup’s annualized gross revenue increased 3-fold in 1 year. This figure reached $200 million (about 340 million manats). The company wants to increase its revenue again over the next 1 year. The target is $400 million (about 680 million manats). In the US, this figure was previously $10 million (about 17 million manats). It has now risen to $60 million (about 102 million manats). The US market accounts for approximately 30 percent of the overall business. The startup has worked with more than 1,000 customers to date and shipped products to more than 40 countries.    Customers outside India now account for more than half of revenue. However, 18 months ago, this figure was less than 5 percent. The energy, electronics, and defense sectors accounted for less than 15 percent of total revenue 1 year ago. That share is now between 45-50 percent. The company has achieved a positive result in terms of EBITDA, meaning profit before the deduction of interest, taxes, and certain other major expenses, over the past 2 months. “Scimplify” expects to become profitable after taxes as well this month.    “Scimplify” works with companies such as “TDK,” “BASF,” and “Hitachi.” The startup produces tungsten derivatives and rare-earth materials from metal waste. The goal is to create an alternative source for industries dependent on China. Of the new investment, $7.5 million (about 12.8 million manats) will be allocated to building a manufacturing network in the US. Another $2 million (about 3.4 million manats) will be spent on developing the “Scinode” platform. The company employs a total of 340 people, 70 of whom are scientists. Local teams operate in the US, Japan, Indonesia, and the United Arab Emirates.