Polymerize, a material informatics platform for R&D in chemical companies headquartered in Singapore, announced today that it has raised $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.
Polymerize will use the new funds to ramp up hiring and to expand their geographical footprint.
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 and 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.).
Dr. Abhijit Salvekar said, said “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 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.”
Polymerize’s deep-tech/AI platform is based on a foundation of extensive domain knowledge and scientific literature. This combined with historical data points from customer feedback is then fed through the proprietary AI architecture, embedded with domain expertise and process-structure-property relationships. This then leads to tailored and high quality predictions that improve with every experiment. It is currently focusing on companies across automotive, adhesives, paints & coatings, speciality chemicals and packaging.
Deepak Gaur, Partner at 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”
Amit Behl, Partner at InfoEdge Venture said, “We funded Polymerize at an idea stage and are impressed by the accuracy of the AI platform Kunal and Abhijit have built. Working off small data sets to recommend formulations that have exceeded expectations of their pilot clients is very promising. This capital raise shall enable Polymerize to deepen its relationships with large polymer cos and assist them in digitising their materials innovation journey.”