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BEENEXT company logo
Venture Capital
FINANCE | Investment Firms & Funds
beenext.com

Investments

330

Portfolio Exits

24

Funds

8

About BEENEXT

BEENEXT is a venture capital firm. It invests in early-stage technology companies such as financial technology, healthcare technology, food technology, and property technology sectors. BEENEXT was founded in 2015 and is based in Singapore, Singapore.

Headquarters Location

1 George St, 10 One George Street

Singapore, 049145,

Singapore

+65 8808 1138

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Latest BEENEXT News

Scimplifi Raises $3.67M for Science-Driven Specialty Chemicals Platform

Dec 8, 2023

Scimplifi is an end-to-end B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries – pharmaceutical, personal care, and agrochemical. New Update Scimplifi , a platform for all sourcing and manufacturing of specialty chemicals, has raised $3.67 million in its seed round from global institutional investors 3one4 Capital and BEENEXT . Angel investors with expertise in the chemical industry and B2B commerce also participated in this round. Scimplifi aims to use the raised funds to expand the core team on the business, value engineering, and technology front. Founded by Salil Srivastava and Sachin Santhosh , Scimplifi is an end-to-end B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries – pharmaceutical, personal care, and agrochemical. The company takes a science-first approach to understanding, evaluating, and delivering in this ecosystem. With the recent funding, Scimplifi is set to establish essential competencies in emerging chemistries and amplify its existing manufacturing capabilities in India and specific global markets . Scimplifi is targeting to shift to a 60 per cent export-oriented model within the next year and plans to expand its reach to 20 countries and 4 new categories in chemicals. In addition, the company will be adding labs in 3 more categories to support research. Users of the platform can explore a technology map that highlights over 100 manufacturing plants involved in multiple chemistries. This map facilitates the effective connection of buyer demand with the right factories. As per a recent McKinsey report , India is on its way to becoming a $150 billion chemicals manufacturing hub by 2030. However, the industry is plagued by two major bottlenecks - a lack of R&D talent and a fragmented supply chain. Buyers in this ecosystem face many challenges like sourcing raw materials from small and unconnected manufacturers, order confusion and delays, unreliable quality, limited options in the chemicals, and lack of access to R&D facilities. Scimplifi’s innovative technology-enabled project management system offers end-to-end support across the product life cycle with access to in-house scientists - from R&D to manufacturing. "Specialty chemicals is an $800 billion global market that is extremely heterogeneous and fragmented. Globally, manufacturing supply chains are now shifting in India’s favor like never before. However, it is complex to bring together the R&D across multiple chemistries, compliances across different markets, and manufacturing from milligram to metric ton scale while providing a world-class service. At Scimplifi, we aim to become a trusted, science-first platform from a concept in a lab to finished product manufacturing for our global customers," said Salil Srivastava, Co-founder and CEO, Scimplifi. “In the backdrop of robust macro trends within the sector and capabilities across the product life cycle, Scimplifi has made a solid debut. Salil and Sachin have curated a skilled team with a mix of business and technical know-how. We're enthusiastic about partnering with Scimplifi as they strive to unleash India's potential as a specialty chemical manufacturing powerhouse,” said Akshay Sharma, Vice President, Investments, 3one4 Capital. “From the team’s focus on science-first solutions to their unique service offerings, Scimplifi has all the right components to become a game-changer in the chemicals industry," said Anirudh Garg, Partner, BEENEXT. “We look forward to collaborating with the team as they continue to explore ways to make chemical sourcing more efficient for businesses across multiple industries." Scimplifi’s services include R&D ideation, prototyping, sourcing, and scaled manufacturing. Backed by a team of scientists and industry experts with over 20 years of experience across 4 different verticals, the company is working to become a key player in the ecosystem. Scimplifi leverages its global supplier pool and tech-enabled platform to promise a seamless experience for buyers and manufacturers alike.

BEENEXT Investments

330 Investments

BEENEXT has made 330 investments. Their latest investment was in Scimplifi as part of their Seed VC on December 12, 2023.

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BEENEXT Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/7/2023

Seed VC

Scimplifi

$3.67M

Yes

3one4 Capital Partners, Undisclosed Angel Investors, and Undisclosed Investors

4

11/28/2023

Series A - II

Phi Commerce

$10M

No

3

11/14/2023

Seed VC - II

CoverSelf

$8.2M

No

3one4 Capital Partners, Undisclosed Angel Investors, and Z21 Ventures

1

10/23/2023

Seed VC - II

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$99M

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10

7/20/2023

Pre-Seed

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$99M

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10

Date

12/7/2023

11/28/2023

11/14/2023

10/23/2023

7/20/2023

Round

Seed VC

Series A - II

Seed VC - II

Seed VC - II

Pre-Seed

Company

Scimplifi

Phi Commerce

CoverSelf

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Amount

$3.67M

$10M

$8.2M

$99M

$99M

New?

Yes

No

No

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Co-Investors

3one4 Capital Partners, Undisclosed Angel Investors, and Undisclosed Investors

3one4 Capital Partners, Undisclosed Angel Investors, and Z21 Ventures

Sources

4

3

1

10

10

BEENEXT Portfolio Exits

24 Portfolio Exits

BEENEXT has 24 portfolio exits. Their latest portfolio exit was Revv on December 01, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/1/2023

Corporate Majority

$99M

1

11/27/2023

Acq - Fin

$99M

2

9/22/2023

IPO

$99M

Public

1

9/20/2023

Reverse Merger

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$99M

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10

5/4/2023

Acquired

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$99M

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10

Date

12/1/2023

11/27/2023

9/22/2023

9/20/2023

5/4/2023

Exit

Corporate Majority

Acq - Fin

IPO

Reverse Merger

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

1

2

1

10

10

BEENEXT Fund History

8 Fund Histories

BEENEXT has 8 funds, including BEENEXT Emerging Asia.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/16/2020

BEENEXT Emerging Asia

$110M

3

7/25/2018

BEENEXT2

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$99M

0

6/28/2017

BEENEXT Fund

$99M

10

12/31/2015

BEENEXT

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$99M

10

BEENEXT Fund II

10

Closing Date

6/16/2020

7/25/2018

6/28/2017

12/31/2015

Fund

BEENEXT Emerging Asia

BEENEXT2

BEENEXT Fund

BEENEXT

BEENEXT Fund II

Fund Type

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Status

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Amount

$110M

$99M

$99M

$99M

Sources

3

0

10

10

10

BEENEXT Team

2 Team Members

BEENEXT has 2 team members, including current Founder, Chief Executive Officer, Teruhide Sato.

Name

Work History

Title

Status

Teruhide Sato

Founder, Chief Executive Officer

Current

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Name

Teruhide Sato

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Work History

Title

Founder, Chief Executive Officer

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Status

Current

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