a99 VC leads Pre-Series A round in Atomgrid

a99, a Chennai based venture capital fund, has invested in Atomgrid, an R&D driven specialty chemicals company, as part of its ongoing Pre-Series A round. a99 is leading the round, which continues to attract investor interest ahead of its closure.

Atomgrid is pioneering a unique R&D first and asset light approach to specialty chemicals manufacturing, addressing critical challenges global buyers face when procuring specialty chemicals from India: limited access to manufacturers, scarcity of R&D capabilities and unreliable supply chains. Atomgrid has demonstrated strong growth momentum, serving 75+ customers across agrochemicals and personal care segments through both domestic and export markets.

Atomgrid operates in the $861 billion global specialty chemicals market, targeting India’s rapidly growing chemical exports sector valued at $20.4 billion in FY24, with specialty chemicals representing over 50% of total chemical exports. India’s overall chemical exports are projected to grow significantly, with the specialty chemicals market expected to reach $90 billion by 2034.

Founded by Siddharth Gupta and Lakshit Bansal, both IIT and IIM alumni, the founders have been tracking the specialty chemical space since COVID and initially gained hands-on experience through chemical trading before starting Atomgrid. The company has built a team of 30 professionals including experienced scientists and chemical engineers.

Siddharth Gupta, Co-Founder of Atomgrid, said, “When we started Atomgrid, our goal was to bridge the gap between what global buyers expect and what India’s specialty chemicals ecosystem can deliver. With a99 joining us, we’re doubling down on our vision to build a global, innovation led, and asset light company that showcases India’s potential as a global leader in specialty chemicals.”

Mr. Vignesh Shankar, Managing Partner at a99, said, “At a99, we believe India’s next growth chapter in chemicals will be written by companies that combine innovation with execution strength. Atomgrid’s Cloud R&D and asset light approach, built by its founders Siddharth and Lakshit, directly addresses what global buyers increasingly seek from India: reliable innovation, scalable supply and value beyond cost arbitrage. This approach is aligned with India’s ambition to shift from being a volume supplier to a value driven partner in specialty chemicals and we see Atomgrid and its founding team as catalysts for that transformation.”