PE-VC Fund Investments
Specialty chemicals maker Atomgrid raises $7-M led by A99
Bengaluru-based specialty chemicals manufacturer Atomgrid has raised USD 7 million in a mix of equity and debt funding. The equity round was led by A99 (formerly Artha99), with participation from new investors Sadev Ventures and CDM Capital and existing investor Merak Ventures. Debt funding was raised from venture debt funds and banks, including Trifecta, SIDBI, and RevX.Founded in 2023 by Siddharth Gupta and Lakshit Bansal, Atomgrid is a chemical manufacturing platform that serves pharmaceuticals, agrochemicals, electronics chemicals and battery chemicals.The company plans to use the new funds to deepen its export footprint, establish on-ground teams and offices in key international markets, and accelerate the development and launch of new products through its research and development (R&D) initiatives.
In Feb 2024, Atomgrid had attracted about USD 1 M from Merak Ventures, PointOne Capital, UpSparks and others.For FY25, Atomgrid had reported about INR 26 Cr in Operating Income and about INR 3 Cr in Net Loss.
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