Scimplify to tap $100 mn for overseas push

Specialty chemicals startup Scimplify is in advanced talks to raise $70-100 million in a Series C round from a mix of new and existing investors, including early-stage venture capital firm Accel, according to two people familiar with the matter.

- Sowmya Ramasubramanian

Scimplify has raised $54 million to date.

(Istockphoto)

The deal could rank among the biggest investments in a new-age industrial company.

The Bengaluru-based firm, last valued at $150 million after its $40 million fundraise in March, could see its valuation more than double if the deal goes through—cementing its plans to expand international operations to the US and Japan, the two people said on condition of anonymity.

Scimplify and Accel declined to comment to emailed queries.