Get All Access for $5/mo

Polymerize Raises $4.2 Million In Series A Funding Round The fund will be used to ramp up hiring and expand the company's geographical footprint

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Polymerize, a material informatics platform for R&D in chemical companies, has raised $4.2 million in Series A funding round led by Elevation Capital. The round also saw participation from InfoEdge Ventures. The fund raised will be used to ramp up hiring and expand the company's geographical footprint.

"Both Kunal and I were struck by the inefficiencies in R&D for materials formulation. Not only are the current methods inefficient and don't leverage data from previous iterations experiments, they also run the risk of missing out on the formulation of materials with unique properties. Polymerize's deep tech solution not only allows companies to save on time and money, it also ensures the best possible end-level output," said Abhijit Salvekar, co-founder, Polymerize.

The company has acquired marquee customers across three markets, Japan, Singapore and India. It is currently focusing on companies across automotive, adhesives, paint and coatings, chemicals and packaging, as per company's statement.

"We funded Polymerize at an idea stage and are impressed by the accuracy of the AI platform Kunal and Abhijit have built. This capital raise shall enable Polymerize to deepen its relationships with large polymer companies and assist them in digitizing their materials innovation journey," said Amit Behl, partner, InfoEdge Venture.

Founded in 2020 by Kunal Sandeep and Dr. Abhijit Salvekar, Polymerize is a SaaS platform that helps R&D teams in chemical companies simplify the process of formulation development and data management. The core value proposition of the platform is to reduce the overall R&D costs and accelerate companies' time-to-market for their new products.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.

Culture

I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.