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.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Leadership

International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

News and Trends

Zydus Wellness: Leveraging FMCG Trends To Turn Around Tables

Price-pack architecture, e-commerce, Internet first brands and increased penetration in smaller pockets, are the current focus of the company

News and Trends

Capgemini Set to Acquire Unity's Digital Twin Professional Services Arm

According to an official statement, Unity's Digital Twin Professional Services team will join and be embedded within Capgemini, forming one of the largest pools of Unity enterprise developers in the world

News and Trends

Danger Ahead: Digital Banking Fraud Trends In India

According to a recent report, account takeover represents more than half of all fraud cases for its customers in India.

Technology

4 Key Features About Reliance's New AI Hanooman

Hanooman, an ambitious AI model developed by Reliance Industries in collaboration with 9 IITs (Indian Institutes of Technology) across the country has been introduced by Mukesh Ambani.

Business Ideas

55 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.