Covvalent raises USD 4.3 million in funding round led by Nexus Venture Partners

Covvalent, a B2B platform for sale and purchase of chemicals, has raised USD 4.3 million, about Rs 35 crore, in a funding round led by Nexus Venture Partners, the startup said on Monday.

Angel investors and founders such as Vishal Chaudhary (co-founder, Zetwerk), Ramakant Sharma (founder, Livspace), Rajesh Yabaji (founder, BlackBuck), Rehan Khan (MD, MSD India Region), Jawaid Iqbal, Anubhav and Ankit Singh (co-founders, Rupifi) and Kaushal Soparkar (founder, Meghmani Group) also participated in the round.

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“Specialty chemicals platform Covvalent has raised USD 4.3 million in a seed round led by Nexus Venture,” the firm said in a statement. Covvalent will utilise the funds 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, the statement said.