Express Computer
Home  »  News  »  Polymerize raises US$ 4.2 million in Series A Funding led by Elevation Capital

Polymerize raises US$ 4.2 million in Series A Funding led by Elevation Capital

0 202

Polymerize, a material informatics platform for R&D in chemical companies headquartered in Singapore, has announced that it has raised US$ 4.2 million in Series A funding led by Elevation Capital. The round also saw participation from InfoEdge Ventures who had previously invested in their Seed round.

Founded in 2020 by Kunal Sandeep and Dr. Abhijit Salvekar (Ph.D), 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. Polymerize’s platform enables R&D teams to collaborate across different geographies and effectively manage all of their past & current experimental data, design new experiments and get AI based recommendations for new formulations or alternative ingredients with desired properties (such as elasticity, hardness, viscosity etc.). 

There is an ever increasing demand for high performance materials to support advancements across industries such as electric mobility, circular economy, aviation, energy, healthcare etc. And this demand pushes the companies to innovate & develop materials faster. For instance, earlier, IC Engine cars needed  materials to be flame retardant, high temperature resistant, oil resistant etc. Today, Electric cars need materials to be electrically insulated, lightweight, durable, inexpensive. A critical need to switch from metal to composites.

Thus, the material companies need to identify the right formulations which will meet their objectives. The current process of formulation development is iterative, manual, time and cost intensive and can take anywhere from several months to a few years. Polymerize, with their software aims to shorten this development time significantly (by up to 50%), achieve R&D cost savings of upto 40% and generate new formulations with better outcomes.

Abhijit and Kunal together are a great mix of industry expertise and business skills. Abhijit is a material scientist, who has worked as Product Researcher with the Japanese materials giant AGC Inc. (erstwhile Asahi Glass) and thus brings in domain & technical expertise. Kunal, on the other hand, has been 2x founder in the past along with stints at KPMG and Subex, which allows him to play a pivotal part in scaling the product & the business. They have also built a stellar leadership team consisting of individuals who have worked at places such as Schlumberger, Whatfix etc. 

Dr. Abhijit Salvekar, Co-founder, Polymerize said, “Both Kunal & 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 of 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.” 

Deepak Gaur, Partner, Elevation Capital said, “Kunal and Abhijit have unlocked the power of ML for the chemical and polymer industries which are facing the ever increasing market demand for innovative materials. We strongly believe that Polymerize’s material informatics platform will help the customers leapfrog into the digital era.”

Advertisement

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image
Live Webinar : Know how to enhance customer engagement with omnichannel experience
Register Now
close-image