Indian startup Scimplify has raised $25 million in an all-equity strategic funding round. The investment, led by Hitachi Ventures with new investors Henkel and Teknor Apex, aims to expand Scimplify's AI-powered production of specialty chemicals and critical materials.
The company, founded in 2023, focuses on reducing manufacturers' reliance on Chinese suppliers, with semiconductors, defense, and energy identified as key growth markets. Scimplify's proprietary AI platform, Scinode, helps coordinate manufacturing processes by identifying production routes and facilities, and tracking quality and regulatory requirements.
Scimplify's annualized revenue run rate has reached approximately $200 million, tripling from a year earlier. The startup, which serves over 1,000 customers, plans to expand its production network to the U.S. and Japan over the next year. Approximately $7.5 million of the new funding is earmarked for its U.S. expansion.
The U.S. market has seen Scimplify's annualized revenue run rate rise sixfold to about $60 million from $10 million a year ago, now accounting for roughly 30% of its business. The company has been EBITDA-positive for the past two months and expects to turn profitable after tax this month.