Covvalent, a specialty chemicals platform, has raised $4.3 million in a seed funding round led by Nexus Venture Partners.

The funding round also saw participation from angel investors and founders such as Ramakant Sharma (Founder, Livspace), Rajesh Yabaji (Founder, BlackBuck), Vishal Chaudhary (Co-founder, Zetwerk), Jawaid Iqbal, Anubhav and Ankit Singh (Co-founders, Rupifi), Rehan Khan (MD, MSD India Region), and Kaushal Soparkar (Founder, Meghmani Group).

As per the startup, the raised funds will be used to build its product and business teams and sharpen its technology tools to ensure a precise match between customer specifications and a supplier’s output.

Covvalent | Specialty Chemicals Platform

Founded by Sandeep Singh and Arush Dhawan in 2022, Covvalent is a Gurugram-based specialty chemicals platform that claims to solve core issues of the cross-border supply chain, including supplier discovery, delivery delays and quality rejections.

Owned by AT7 Technology Inc, the specialty chemicals platform claims to offer a best-in-class experience for cross-border commerce, including on-time delivery of products with complete visibility of the supply chain.

Speaking about the development, Sandeep Singh, Co-founder of Covvalent, said,

“Covvalent is solving the problem of a fragmented ecosystem in the specialty chemicals space with a vision to be the most trusted partner for its buyers and their procurement needs. We plan to deliver solutions for our customers by integrating technology with strong on-ground operations, assuring timely delivery and quality.”

As per Sandeep, specialty chemicals as a sector is undergoing a revolution driven by leaps in globalization, technology, and logistics.

With its core team having strong specialty chemicals operating background and a deep understanding of the challenges, the startup plans to deliver solutions for its customers by integrating technology with strong on-ground operations, assuring timely delivery and quality.

Commenting on the development, Anand Datta, Nexus Venture Partners, said,

“The global supply chain for specialty chemicals is ripe for disruption – new production centres and more efficient supply chains will emerge, enabled by technology. In Sandeep and Arush, we see a unique mix of a tech-first approach supported by operational and domain expertise to exploit these opportunities uniquely.”

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