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Elchemy, a cross-border specialty chemical distribution platform secured $5.6 million Series A in its funding round, led by Prime Venture Partners. The funding round saw participation from existing investor InfoEdge Ventures.
The funding will be utilised to enhance its technological capabilities and expand our global footprint, particularly in North America, said Hardik Seth, Co-founder of Elchemy.
Furthermore, the company plans to establish a dedicated team in the U.S. and expand its proprietary technology stack to include enhanced quality management systems, real-time tracking capabilities, and automated documentation processes.
Previously, the startup raised $2 million in its seed round led by InfoEdge Ventures in 2022.
Founded in 2021, Elchemy has a clientele over 80 clients globally, with a particularly strong presence in North America.
Elchemy’s platform has facilitated specialty chemical exports to more than 50 ports globally and has partnered with emerging manufacturers and large publicly listed chemical companies on the supply side, said the company.
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