Mumbai-based Chemical platform Elchemy has raised $2 Mn (around INR 16.4 crore) in a Pre-seed funding round led by Info Edge Ventures and other angel investors. Elchemy is a tech-enabled distributor of chemicals. They help chemical manufacturers and distributors across the globe in developing new sources of supply.
Elchemy revolutionizing the $200Bn Indian chemicals industry, we’re determined to change how trade happens in this industry – the opportunity is huge and possibilities are endless.
Founded by Hardik Seth & Shobhit Jain in 2021, Elchemy is essentially a new-age chemical distribution company that connects international buyers with high-quality Indian manufacturers. It is founded by alumni of IIT-B, IIT-D, and IIM-A, who have previously worked at places like Amazon, Samsung, P&G, and SRF.
They offer end-to-end supply chain services with a great focus on turnaround times and reliability. In just a short span of time, they have partnered with 100s of small and medium-sized chemical manufacturers from India. They aggregate demand to offer economies of scale on material pricing previously unavailable to individual customers and projects. They offer access to 25+ contract manufacturing sites, R&D facilities, and labs to carry out hazardous and complex reactions.