Scimplify raises $25M to challenge China’s grip on critical materials with AI
techcrunch ·
Indian startup Scimplify has secured $25 million in strategic equity funding to expand its AI-driven production of specialty chemicals and critical materials. Led by Hitachi Ventures with participation from customers Henkel and Teknor Apex, the round values the Bengaluru-based company at $250 million. The investment aims to reduce global reliance on Chinese suppliers by accelerating material discovery and manufacturing processes through its proprietary Scinode platform. Scimplify claims to deliver finished materials in just two months, significantly faster than the industry standard of 12 to 18 months. The company reports an annualized revenue run rate of approximately $200 million, driven largely by growing demand from the U.S., energy, electronics, and defense sectors. With about 90% of current manufacturing located in India, Scimplify plans to expand its network into the U.S. and Japan using part of the new capital. The startup is also focusing on producing alternative sources for tungsten derivatives and rare earth materials to diversify supply chains. Having served over 1,000 customers across 40 countries, Scimplify expects to achieve profitability after taxes imminently.
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