Bengaluru:
Polymerize, a Singapore-based software-as-a-service (SaaS) startup, has raised $4.2 million in a funding spherical led by Elevation Capital.The spherical additionally noticed participation from present investor InfoEdge Ventures. Polymerize plans to make use of the brand new funds to ramp up hiring and increase its footprint throughout India, Japan and the US.
The corporate has thus far acquired clients throughout three markets — Japan, Singapore and India. It would concentrate on corporations throughout automotive, adhesives, paints and coatings, speciality chemical substances, and packaging.
Based in 2020 by Kunal Sandeep and Abhijit Salvekar, Polymerize is a man-made intelligence (AI)-based Saas platform that helps analysis and improvement (R&D) groups in chemical corporations simplify formulation improvement and knowledge administration.
The core worth proposition of the platform is to scale back R&D prices and speed up time-to-market for brand spanking new merchandise. The platform permits R&D groups to collaborate throughout totally different geographies and handle all their previous and present experimental knowledge, design new experiments, and get AI-based suggestions for brand spanking new formulations.
“Polymerize’s deep-tech answer not solely permits corporations to avoid wasting on money and time, it additionally ensures the absolute best end-level output,” stated Salvekar.
The startup has a subsidiary in India and its tech staff is predicated fully within the nation.
“We’re at the moment working with one medium and a big buyer, one in adhesive and the opposite in section change supplies. Our effort is in growing our buyer base in India and a major addition will probably be to our engineering staff right here in India,” Salvekar added.
Polymerize raised $590,000 in a seed spherical in October 2020, led by Noida-based InfoEdge Ventures.
“We funded Polymerize at an concept stage and are impressed by the accuracy of the AI platform Kunal and Abhijit have constructed. This capital elevate shall allow Polymerize to deepen its relationships with massive polymer cos and help them in digitising their supplies innovation journey,” stated Amit Behl, accomplice at InfoEdge Ventures.
