Scimplify raises $25 million as U.S. sales become a larger share of revenue

The new funding gives the specialty-chemicals company more room to grow in the U.S. as it reports faster sales there and a move toward profitability.

Scimplify has raised $25 million to scale its AI-assisted specialty-chemicals business, as companies look for alternatives to China-centered supply chains in materials used for semiconductors, defense, energy and electronics. The all-equity strategic round was led by Hitachi Ventures, with Henkel and Teknor Apex joining as new investors, and it reportedly values the Bengaluru startup at $250 million after money in. Scimplify says its annualized revenue run rate is about $200 million, up from a year earlier, and that U.S. revenue has climbed sixfold to around $60 million, making the country about 30% of sales. The company also says it now serves more than 1,000 customers in over 40 countries, has been EBITDA-positive for two months, and expects to become profitable after tax this month. It plans to spend about $7.5 million of the new capital on U.S. expansion and $2 million on further development of its Scinode AI platform.