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Speciality chemicals R&D startup Atomgrid has raised ₹10 crore in a seed funding round led by B2B venture capital (VC) firm Merak Ventures. The startup will use the funds to expand in-house R&D infrastructure and global outreach.
Other venture firms including Dexter Ventures, Upsparks, Point One Capital and the founders of UniCards (Nitin Gupta and Prateek Jindal) also participated in the round.
Co-founded by Lakshit Bansal, Siddharth Gupta, and Pratik Chowdhury, Atomgrid offers to support Indian chemical manufacturers in areas such as R&D, raw material sourcing and tech enablement.
Co-founder Gupta said, “A massive global speciality chemical market, coupled with inefficiencies that we see on a daily basis, makes us believe that we are solving the right problem at Atomgrid. With this funding, we are poised to accelerate our mission of empowering Indian chemical manufacturers on a global scale.”
A statement from Atomgrid also mentioned that India’s speciality chemical companies are gaining favour with global MNCs to reduce their dependence on China, according to a Frost and Sullivan report.
“Currently China accounts for about 15-17 per cent of the world’s exportable speciality chemicals, whereas India accounts for merely 1-2 per cent, indicating that the country has a large scope of improvement and widespread opportunity. It is anticipated that speciality chemicals will be the next great export pillar for India, with an anticipated growth of about 12.2 per cent CAGR,” it stated.
Sheetal Bahl, Partner at Merak Ventures, said, “As India’s speciality chemicals sector drives industry growth, Atomgrid stands out by maximising underused MSME capacities. More than just filling the demand-supply gap, Atomgrid redefines its role in the supply chain — from mere distributor to vital manufacturing partner. This strategic approach sets them apart, perfectly aligning with Merak Ventures’ commitment to innovative B2B tech solutions.”
(With inputs from BL intern Vidushi Nautiyal)
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