German Meta-Search Engine takes on another Investor from Industry
Chemicals producer Evonik (Essen, Germany) has announced an investment in technology company chembid GmbH (Oldenburg, Germany). Launched in 2016 as a spin-off from chemicals formulator BÜFA Group (Oldenburg, Germany), chembid is a meta-search engine and market intelligence platform for chemical products. This investment is the second strategic partnership that chembid has entered into, after chemical distributor STOCKMEIER Group (Bielefeld, Germany) took a minority share in early 2019. Evonik is making the investment through its Evonik Venture Capital subsidiary.
As part of the transaction, Evonik will contribute knowledge from the development and operation of its proprietary digital marketplace OneTwoChem® to the chembid platform. It will cease to operate its own platform. Already last year, Evonik’s digital laboratory assistant COATINO®, was included in the service offering of chembid. Besides a product recommendation function, COATINO offers a voice assistant for the Paints & Coatings industry, which provides answers to complex technical questions regarding formulations and ingredients of coatings products.
No information on the size of the shareholding of Evonik and the valuation of the transaction was disclosed.
Source: chembid website, Evonik website
HGE / DCG – 09.02.2021
Upcoming Brazilian Distribution Conference features International Speakers and Panellists
The 9th EBDQUIM – Brazilian Congress of Chemicals and Petrochemicals Distributors – will take place six weeks from now on 09. to 10. March 2020 in São Paulo, SP – Brazil. This Latin-American forum, which brings together the major national and international companies along the entire chemicals value chain, producers, distributors, transport & logistics providers and industrial & commercial users, is organised by Associquim / Sincoquim (São Paulo, SP – Brazil).
Further program details can be found on the organiser’s website via the link. https://www.associquim.org.br/9ebdquim/.
DistriConsult’s Günther Eberhard will speak on the subject of Digitalisation of Chemicals Distributors. In preparation for the event DistriConsult’s co-operation partner in Brazil, BIZUP BUSINESS LEVERAGE (São Paulo, SP – Brazil) https://www.bizupconsulting.com.br/en/home, is currently conducting a web-based survey on the subject. A summary of the results and key findings will be reported at the event.
Source: Associquim / Sincoquim
HGE – DCG / 30.01.2020
DistriConsult comment: In case you are a chemical distributor in Brazil and would be interested in a participation in the survey, but have not yet receieved an invitation mail, please contact the editor. He will make sure you do receive the necessary information.
German Meta-Search Engine takes on second Shareholder
Chemicals distributor STOCKMEIER Group (Bielefeld, Germany) has announced an investment in technology start-up Chembid GmbH & Co. KG (Oldenburg, Germany). The company, which was launched in 2016 as a spin-off from chemicals formulator BÜFA Group (Oldenburg, Germany), is a meta-search engine or aggregator. This investment is the first strategic partnership that Chembid has entered into, STOCKMEIER said in a statement.
According to its website, Chembid sees itself as the world’s largest search engine for chemicals, when measured by the number of registered offers. It currently covers around two million offers from almost 100’000 supplier shops, located in ca. 160 countries. Chembid is planning to use the funds received from STOCKMEIER’s investment to further develop the meta-search engine, add more data-based services and promote the company and its service offering through global marketing activities.
No information on the size of the shareholding and the valuation of the transaction handled through STOCKMEIER Holding was disclosed.
Source: STOCKMEIER website, Chembid website
HGE / DCG – 15.01.2019