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To strengthen e-commerce business Evonik’s venture capital arm has invested in start-up company chembid. The Oldenburg, Germany based chembid is a world’s largest search engine and market intelligence platform for chemicals.

  • chembid has developed a meta-search engine that connects buyers with suppliers and it also provides a dashboard of market intelligence such as price trends and demand patterns by analyzing the search data with intelligent algorithms.
  • The investment supports the development of an independent digital sales platform for the chemical industry.

The prominent acquisitions and expansion by Evonik are mentioned below:

Dec 2020: To strengthen biodegradable polymers business Evonik announced to acquire the LACTEL from DURECT Corporation for $15 million. The acquisition of the Lactel business will strengthen both innovation growth in the field of Healthcare Solutions and Evonik’s position as a globally leading CDMO for drug delivery solutions.

Oct 2020: Evonik announced that Evonik Venture Capital had sold its stake in Synoste Oy to U.S. based Globus Medical. Evonik’s four-and-a-half-year partnership helped in the development of Synoste’s technology for orthopedics and giving Evonik further insights into the medical applications market for its high-performance polymers.

Aug 2020: Evonik is acquiring the Texas based Porocel Group for approximately US$210 million. The acquisition of Porocel accelerates the growth of its catalysts business of Evonik.

May 2020: Evonik announced an exclusive agreement with Glenn Corporation a division of Azelis Americas. As per agreement Glenn will distribute the product protection line by Evonik’s Dr. Straetmans brand in the United States. The Evonik Dr. Straetmans product range includes multifunctional antimicrobials and preservative blends, antioxidants and chelating agents.

February 2020: Evonik had announced the acquisition of Princeton based Wilshire Technologies, a leading supplier of phytochemicals and derivatives to the global cosmetic and pharmaceutical industries. The transaction also includes Wilshire Technologies employees, and cosmetic active ingredients portfolio.

February 2020: Evonik had closed the acquisition of the US company PeroxyChem for US$640 million. PeroxyChem is a leading manufacturer of hydrogen peroxide (H2O2) and peracetic acid (PAA) and is well-positioned in high-margin specialty applications.

About Evonik
Evonik, headquartered at Essen, North Rhine-Westphalia, Germany, is one of the world’s leading specialty chemicals companies. The company is operating in more than 100 countries, and employing approximately 36,000 people across the world. The company’s product makes tires fuel-efficient, mattresses more elastic, medications more effective, and animal feeds healthier. Evonik, provides biomaterials for use in medical implant applications.

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