About Covvalent
Covvalent is a Chemicals & Materials company based in Lewes (United States) founded in 2022 by Sandeep Singh and Arush Dhawan. Specialty chemicals are procured and distributed via an online marketplace. It operates in the Chemicals & Materials and Retail sectors. Covvalent has raised $4.3 million across 1 funding round from investors including Nexus Venture Partners, Vishal Chaudhary and Ramakant Sharma. The company has 16 employees. Its Indian entity Rainboweucalyptus Technologies Private Limited reported revenue of ₹39.23 Cr. Covvalent offers products and services including Oleochemicals and Custom Manufacturing. Its focus areas include Chemicals and Materials Tech, Chemicals Tech, Ecommerce and B2B Marketplace. Its competitors include Knowde, BluePallet and Chemdex; 3 of its 3 listed competitors have raised funding.
Company details
Founded in 2022 and based in Lewes, United States, Covvalent operates as an online marketplace in the specialty chemicals sector. Procurement and distribution processes are streamlined for buyers through access to products from verified suppliers, along with transparent pricing and real-time inventory checks. Technical support is offered, while suppliers benefit from expanded market access and analytical insights derived from platform data.
- Headquarters Lewes, United States
- Employees 16
- Founders Sandeep Singh, Arush Dhawan
- SectorsChemicals & MaterialsRetail
- Email••••••••
- Website covvalent.com
- Social LinkedIn
- Legal Name Rainboweucalyptus Technologies Private Limited
- Date of Incorporation 29 Aug, 2022
- Jurisdiction Gurgaon, Haryana, India
- Indian entity revenue₹39.23 Cr
FY 2024 · +1238% YoY
- Indian entity net profit₹49.4 Lakh
FY 2024 · 1% margin
- Indian entity EBITDA₹70 Lakh
FY 2024 · 2% margin
- Total Equity Funding$4.3M (USD)
in 1 rounds
- Latest Funding Round$4.3M (USD), Seed
Nov 2022
- InvestorsNexus Venture Partners
& 8 more
- Employee Count16
Associated legal entities of Covvalent
Covvalent operates through Rainboweucalyptus Technologies Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Rainboweucalyptus Technologies Private Limited CIN U72900HR2022PTC106185 | Active | 29 Aug 2022 | Gurgaon, Haryana | ₹39.2 Cr | 16 | 2 | View details |
Products & Services of Covvalent
Covvalent offers a comprehensive portfolio of products and services, including Oleochemicals and Custom Manufacturing.
Provides fatty acids, glycerine, and surfactants with sustainable sourcing.
Develops specialty chemical raw materials for coatings and adhesives sectors.
Funding Insights of Covvalent
Covvalent has successfully raised a total of $4.3M through 1 strategic funding round. The most recent funding activity was a Seed round of $4.3 million completed in November 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $4.3M
- Total Rounds 1
- Last Round Seed — $4.3M
- First Round $4.3M
(Nov 2022)
- Investors Count 9
All 1 funding rounds of Covvalent with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2022 | $4.3M | Seed | – | Nexus Venture Partners |
9 investors in total: 1 institutional and 8 angel.
Investors in Covvalent
Covvalent has secured backing from 9 investors, including angel and venture fund investors. Prominent investors backing the company include Nexus Venture Partners, Vishal Chaudhary and Ramakant Sharma.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm that partners with entrepreneurs for product-first companies. | 2006 | nexusvp.com | Menlo Park, United States | |
VC Vishal Chaudhary | Angel investor, Co-founder of Zetwerk, focused on manufacturing and tech startups | unknown_9d5261e0d028401fa | ||
RS Ramakant Sharma | Co-founder of Livspace, angel investor in Indian startups | unknown_00105313a38a474ca | ||
RY Rajesh Yabaji | unknown_80697bd1bbaa4789a | |||
RK Rehan khan | unknown_f5b3dc79b6ae45c6b | |||
JI Jawaid Iqbal | Angel investor and entrepreneur, focusing on tech startups in India. | unknown_d63f8fb7f7a04d5f9 | ||
AS Ankit Singh | Founder of WazirX, prominent crypto entrepreneur, active angel investor | unknown_92db9625e6b643159 | ||
KS Kaushal Soparkar | unknown_2ca33cba12b743c7a | |||
AJ Anubhav Jain | unknown_e74646fcfdb34244a |
Investor details for Covvalent
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Rainboweucalyptus Technologies Private Limited (Covvalent)
Rainboweucalyptus Technologies Private Limited is the primary company behind Covvalent. The board of Rainboweucalyptus Technologies Private Limited currently have 2 directors; the longest-serving is Arush Dhawan, appointed in 2022. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Arush Dhawan DIN 10019110 | Director | 17 Oct 2022 | 4 yrs | Rainboweucalyptus Technologies Private Limited |
| Sandeep Singh DIN 09769590 | Director | 18 Oct 2022 | 4 yrs | Rainboweucalyptus Technologies Private Limited |
People of Covvalent
9 people are tracked at Covvalent (4 in leadership, 5 in team); the tracked headcount is 16.
| Name | Role | Group |
|---|---|---|
| Co-Founder & Chief Revenue Officer | Leadership | |
| Co-Founder & COO | Leadership | |
Umesh Shahdadpuri | Chief of Staff | Leadership |
Aqeedat Sandhu | Founder's Office | Leadership |
Tanupriya Saharan | Lead, House of People & Culture | Team |
Saurabh Sahay | Lead Process Design Engineer | Team |
Minnat Alam | Business Intelligence Analyst & Consulting | Team |
Priyanka Chauhan | Associate - People And Culture | Team |
Sambodhi Pawar | Vertical Lead | Team |
Complete people profiles for Covvalent
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of Covvalent
Figures of Rainboweucalyptus Technologies Private Limited, the primary company behind Covvalent, for FY 2024. Revenue was ₹39.23 Cr (+1238% year on year). Net profit was ₹49.4 Lakh (1% margin). EBITDA was ₹70 Lakh (2% margin).
- ₹39.23 CrRevenue · FY 2024 · +1238% YoY
- ₹49.4 LakhNet profit · 1% margin
- ₹70 LakhEBITDA · 2% margin
- ₹8.2 LakhPaid-up capital
- 16Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Rainboweucalyptus Technologies Private Limited are on its company page.
Detailed financial statements for Covvalent
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Covvalent
2 dated milestones of Covvalent, from founding to its latest funding, stage changes and deals.
- Founded Covvalent is founded.
- Funding First funding round of $4.3M.
Competitors of Covvalent
Covvalent has 3 listed competitors in our database, 3 of them funded. They include Knowde, BluePallet and Chemdex.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| knowde.com | 2017 | San Francisco, United States | $146M | Chemicals are traded via an online B2B marketplace. | ||
| bluepallet.io | 2017 | Chicago, United States | $16.92M | 26 | Provider of a cloud-based marketplace for chemicals | |
| chemdex.com | 1997 | Carlsbad, United States | $43M | Chemdex operates an online B2B marketplace for chemical products. |
Detailed competitors of Covvalent
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Covvalent
The website of Covvalent (covvalent.com) receives about 1.3K visits a month.
- Monthly visits1.3K
▼ 8.8% vs previous month
Top companies in Chemicals Tech
3 companies that operate in the same segment as Covvalent (Chemicals Tech) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Microbe-based plant protection products and yield optimization services are provided. | 2013 | Boston, Massachusetts, United States | USD 1.4 B | 1,316 | ||
Conductive nanocoatings are delivered via atomic layer deposition technology. | 2013 | Boulder, Colorado, United States | USD 202.75 M | |||
Sustainable bio-based chemicals are manufactured using a proprietary platform. | 2016 | Houston, Texas, United States | USD 656.05 M | 133 |
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Related news about Covvalent
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Frequently Asked Questions about Covvalent
Covvalent was founded in 2022.
Covvalent is headquartered in Lewes, United States. It is registered at Lewes, Delaware, United States.
Covvalent is a funded company, having raised a total of $4.3M across 1 funding round to date. The company's 1st funding round was a Seed of $4.3M, raised on Nov 2022.
Covvalent has 16 employees.
The primary company behind Covvalent, Rainboweucalyptus Technologies Private Limited, reported revenue of ₹39.23 Cr for FY 2024, up 1238% year on year.
Founded in 2022 and based in Lewes, United States, Covvalent operates as an online marketplace in the specialty chemicals sector. Procurement and distribution processes are streamlined for buyers through access to products from verified suppliers, along with transparent pricing and real-time inventory checks. Technical support is offered, while suppliers benefit from expanded market access and analytical insights derived from platform data.
Covvalent's top competitors include Knowde, BluePallet and Chemdex.
Covvalent offers Oleochemicals and Custom Manufacturing.
Covvalent has 9 investors. Key investors include Nexus Venture Partners, Vishal Chaudhary, Ramakant Sharma, Rajesh Yabaji, and Rehan khan.
Covvalent operates through Rainboweucalyptus Technologies Private Limited.
The legal entities of Covvalent currently have 2 directors, including Sandeep Singh, Arush Dhawan.