Scimplify raises $25 million to cut reliance on Chinese suppliers
Business
Scimplify, an Indian startup, just scored $25 million to ramp up its AI-powered specialty chemical production and cut down reliance on Chinese suppliers.
The funding (led by Hitachi Ventures, with Henkel and Teknor Apex joining in) boosted Scimplify's valuation from $150 million last year to $250 million now.
Scimplify plans semiconductor defense energy expansion
With this fresh cash, Scimplify plans to expand into the semiconductor, defense, and energy sectors.
Their AI platform, Scinode, can help coordinate the work by identifying routes and facilities and tracking quality and regulatory requirements.
Right now, most of their manufacturing happens in India, but they're eyeing the US and Japan next, aiming for a massive $400 million annual revenue run rate within a year.