Elchemy, a cross-border specialty chemical distribution platform, has raised $5.6 million (approximately Rs. 47 crore) in a fresh funding round led by Prime Venture Partners, with the participation of its existing investor InfoEdge Ventures.

In 2022, the Mumbai-based company raised $1.96 million. Elchemy stated in a press release that the proceeds will be used to build a team in the United States, strengthen its tech leadership, and invest in advanced supply chain visibility solutions.

Elchemy was co-founded in 2021 by Hardik Seth and Shobhit Jain. The company helps international buyers discover and source specialty chemicals from India and Southeast Asia. It facilitates the process of locating suppliers, guarantees product quality, and oversees the fulfillment of specialty chemicals from end-to-end.

Elchemy intends to expand its proprietary technology stack to include quality management systems, real-time tracking features, and automated documentation processes. The company continues to solely concentrate on exports, assisting small and mid-sized chemical manufacturers in India in expanding their international presence.

This intends to concentrate primarily on the North American market and asserts to have clients in the Middle East, Europe, and Latin America. The startup's unique distribution-first approach to the highly fragmented specialty chemicals market sets it apart from the competition. The team has developed a remarkable technology platform that not only addresses crucial issues for international buyers but also enhances operational efficacy.

Elchemy asserts that it serves more than 80 clients worldwide, facilitating exports to approximately 50 ports worldwide, and intends to acquire approximately 100 customers from North America within the upcoming year.