Elchemy, a Mumbai-based cross-border specialty chemical distribution platform, has raised $5.6 million in a funding round led by Prime Venture Partners, with participation from existing investor InfoEdge Ventures. ECONOMIC TIMES Founded in 2021 by Hardik Seth and Shobhit Jain, Elchemy assists international buyers in sourcing specialty chemicals from India and Southeast Asia. The platform simplifies supplier discovery, ensures product quality, and manages end-to-end fulfillment. Currently, Elchemy serves over 80 clients worldwide, facilitating exports to approximately 50 ports globally. The newly secured funds will be utilized to establish a team in the United States, enhance technological capabilities, and invest in advanced supply chain visibility solutions. This strategic expansion aims to strengthen Elchemy's presence in North America and improve operational efficiency. Amit Somani, Managing Partner at Prime Venture Partners, commented on the investment: "Elchemy’s unique distribution-first approach in the highly fragmented specialty chemicals market sets them apart. The team has built a remarkable technology platform that not only solves critical pain points for international buyers but also enhances operational efficiency." This funding round brings Elchemy's total capital raised to $7.6 million, following a previous $2 million round in 2022 led by InfoEdge Ventures. ECONOMIC TIMES Sources: The Economic Times #healthcarestartup #startupfunding #dseide