Singapore's SaaS startup Polymerize raises $4.2 million

Polymerize, a software-as-a-service (SaaS) startup based in Singapore has raised $4.2 million in its new funding round led by Elevation Capital.

• The funds will be used to increase its talent hiring and expand its services in India, Japan, and the US, it claims.
• The SaaS platform plans to focus its services on automotive, adhesives paints and coatings, specialty chemicals, and packaging.
• Founded in 2020, Polymerize is an AI-driven SaaS firm that offers development formulation and data management services to research and development (R&D) teams in companies.
• It integrates present and past experimental data, cross-geography inputs and design new experiments to generate AI-based recommendations for new formulations.