Merak Ventures led Atomgrid’s seed round, which raised Rs 10 crore (roughly $1.2 million). Atomgrid is an R&D-first platform for contract development, manufacturing, and sourcing of specialty chemicals.
Nitin Gupta and Prateek Jindal, the founders of UniCards, as well as Dexter Ventures, Upsparks, and Point One Capital also participated in the round.
According to a press release from the company, the funds will be utilized to develop a supply chain technology platform, strengthen global outreach, hire more people, and expand its internal R&D infrastructure.
Lakshit Bansal, Siddharth Gupta, and Pratik Chowdhury founded Atomgrid, an R&D first platform for specialty chemical contract development, manufacturing, and sourcing.
By resolving their major problems with R&D, global outreach, raw material sourcing, and tech enablement, the platform seeks to enable Indian chemical manufacturers to make a lasting impact on the world stage.
Competitors of Atomgrid include Covvalent, backed by Nexus, and Scimplifi, backed by 3one4 Capital.
Merak has made three large investments this year, the third of which is in Atomgrid. Earlier, it made investments in Rupyz and Farmtheory.
