Chemicals industry AI firm Kimia raises $7m in seed round
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The news: Kimia, a Sydney-based AI platform provider for the chemicals industry, has raised $7 million through a seed funding round led by Airtree Ventures with participation from Blackbird Ventures and Skip Capital.
The context: The funding will be used to expand go-to-market across the global chemicals industry, as well as improve platform and customer onboarding capabilities.
Kimia’s platform enables teams to analyse company documents, product data, and institutional knowledge using “domain-specific chemical reasoning”, helping customers and sales teams understand technical information within minutes, according to the company.
The system is already being used by several enterprise customers including Bostik, Univar Solutions and Stahl.
It is being used to assist with structuring supplier data, website search, answering questions for commercial teams, and helping cut down on labour costs, according to Kimia.
What they said: “Chemical businesses are not failing because they lack expertise. They are failing to scale it,” Kimia co-founder and CEO Farid Mirmohseni said.
“What has been missing is a platform built specifically for the chemical industry that converts that expertise into commercial results at the speed the market demands. That is what Kimia does.”
The source: Kimia media release
