Mumbai-based cross-border specialty chemical distribution platform Elchemy has successfully secured $5.6 million (approximately ₹47 crore) in its latest funding round.
The round was led by Prime Venture Partners, with continued support from existing investor InfoEdge Ventures.
This new funding comes after the company’s $1.96 million seed round in 2022, marking a significant step forward in its mission to simplify and streamline the global supply chain for specialty chemicals.
Founded in 2021 by Hardik Seth and Shobhit Jain, Elchemy focuses on helping international buyers source specialty chemicals from India and Southeast Asia. The platform bridges the gap between international demand and regional supply by ensuring quality standards, seamless supplier discovery, and complete fulfillment services.
The startup is committed to empowering small and mid-sized chemical manufacturers in India, helping them reach international markets more effectively. Elchemy’s proprietary technology stack, designed to address industry-specific challenges, has been pivotal in enhancing its operational efficiency and customer satisfaction.
With this funding, Elchemy plans to expand its footprint in the North American market, build a robust team in the US, and strengthen its technology leadership. A key focus area will be developing advanced supply chain visibility solutions, including real-time tracking, automated documentation, and improved quality management systems.
The company’s aim is to streamline cross-border transactions, ensuring reliability and efficiency in a highly fragmented specialty chemicals market.
Elchemy currently serves over 80 clients worldwide and facilitates exports to more than 50 ports across regions such as the Middle East, Europe, and Latin America. The company’s technology-driven distribution-first approach distinguishes it from traditional players in the specialty chemicals sector.
Its growth strategy includes acquiring approximately 100 North American clients over the next year. With an increasing demand for high-quality, cost-effective specialty chemicals, Elchemy is well-positioned to capture a significant share of the market.
Elchemy’s focus on technology innovation has made it a game-changer in the industry. Its platform addresses pain points like supplier discovery, quality assurance, and logistical complexity, providing end-to-end solutions that benefit both buyers and manufacturers.
The company’s commitment to operational excellence has garnered trust from its growing client base, making it a preferred partner for global chemical sourcing.
Elchemy’s latest funding marks a significant milestone in its journey to revolutionize specialty chemical distribution. By leveraging advanced technology and building strong relationships with international buyers, the company is not only simplifying the export process but also supporting India’s growing prominence as a global supplier of specialty chemicals.
As it continues to expand into new markets and enhance its offerings, Elchemy is set to redefine the future of cross-border trade in specialty chemicals, creating a seamless experience for manufacturers and buyers alike
