04-Feb-2021 - chembid GmbH

chembid Wins Evonik as New Investor

The investment is intended to support the development of an independent marketing platform for the chemical industry

chembid, the world's largest search engine and market intelligence platform for chemicals, has gained Evonik, one of the world's leading specialty chemicals companies, as a new partner from the chemical industry. "chembid is a promising, innovative Software-as-a-service company. In recent years, chembid has successfully driven the development of the platform and made a decisive contribution to the digitalization of the chemical industry. Evonik has great know-how and extensive experience in the areas of digitalization and digital platforms. This makes chembid and Evonik ideal partners," explains Bernhard Mohr, Head of Evonik Venture Capital.

Evonik will contribute the knowledge from the development and operation of its digital marketplace OneTwoChem® to the chembid platform and will not continue to operate its own platform. Focusing on one independent platform will strengthen the global marketing approach. With the integration of the digital laboratory assistant COATINO®, which Evonik launched last year, chembid is further expanding its platform services. In addition to its product recommendation function, COATINO® offers a voice assistant for the coatings industry that provides answers to complex questions about formulations and ingredients of coatings.

With the support of its shareholders Evonik, BÜFA, and Stockmeier, chembid intends to achieve further milestones in its success story. chembid will focus on dynamic growth and the expansion of the product and service range using new technologies. "The aim is to position chembid as a central platform for information on the chemicals market and to create real added value for all players of the chemical supply chain. Both our new partner Evonik and the existing shareholders BÜFA and Stockmeier can support us with their expertise and network and contribute to the digital success of chembid," says Marc Riley, Managing Director and CTO at chembid.

With the chembid Dashboard, the SaaS company launched an innovative service last year, which provides exclusive market information such as price developments, new customer potential, and current market demand for chemical products. Technologies like AI-based analyses and intelligent algorithms are expected to make business decisions even easier for buyers as well as suppliers of chemicals in the future.

The parties have agreed not to disclose the financial terms of the deal.

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