VC Fund Investments
Cross-border specialty chemical distribution platform Elchemy raises $5.6 M from Prime Ventures, Inf
Elchemy , a Mumbai-based cross-border specialty chemical distribution platform, has raised USD 5.6 million (about INR 47 crore) in a funding round led by early-stage venture capital firm Prime Venture Partners. The round also saw participation from existing investor InfoEdge Ventures. The new funds will be used for building a team in the US, strengthening technology and for investing in advanced supply chain visibility solutions.The startup last raised USD 2 million in 2022 in a funding round led by InfoEdge Ventures.Founded in 2021 by Hardik Seth and Shobhit Jain, the startup helps international buyers in discovering and sourcing specialty chemicals from India and Southeast Asia. It claims to simplify the process of finding suppliers, ensures product quality and oversees end-to-end fulfilment for specialty chemicals. The company, with primary focus on the North American market, serves more than 80 clients worldwide.
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