EU – Baltic States, Good for Business, Investments, Latvia, Markets and Companies

Today millions of unique chemicals are made by thousands of companies and research institutions around the world. However, because of the specific way molecules are described with chemical structures (the spatial arrangement of atoms and bonds between them), standard Internet search tools are of limited use when searching for a necessary compound or reagents. A vast number of available chemicals remain difficult to locate and buy and therefore are inaccessible to scientists in the fragmented but multi-billion dollar global market.

MolPort’s solution combines smart text and graphical chemical structure search with a database of several million chemical compounds. MolPort’s database aggregates catalogues of a large number of international suppliers and its search portal is a great way for niche suppliers to make their high-value products accessible to scientists globally. MolPort’s trading platform dramatically reduces marketing costs for suppliers and compound synthesis costs for buyers, enabling highly cost-efficient interaction between them.

Toby Moore, Managing Partner of Imprimatur Capital Fund Management in Latvia stated BC, “We believe that MolPort is developing a valuable niche in the global but fragmented chemical reagent and pharmaceutical R&D industries. Based on their direct experience, MolPort is building a large database with millions of easily searchable chemical compounds and incorporating suppliers and buyers in an efficient trading platform. This has great market potential on a global scale and therefore is an attractive investment.”

Imants Zudāns, CEO and co-owner of MolPort stated that “MolPort is becoming a popular resource for scientists looking to buy rare reagents and new compounds for testing in the drug discovery industry. Hundreds of universities, research institutes and firms from all over the world have used our chemical procurement services while we are still in the pilot testing mode. Our customers often place complex orders that would otherwise require several days of their work time to arrange and which our e-commerce platform can help to automate. This new investment from the Imprimatur Capital Seed Fund will allow us to use our accumulated knowledge of the market and build a full-service online shop that will span millions of unique chemical products that are sold by suppliers all around the world.“

Graham Cope, Head of Region, European Investment Fund, stated “Niche business-focussed portals continue to prosper and this latest investment by Imprimatur Capital demonstrates their ability to invest in and support high growth opportunities from within the Latvian marketplace.”