Through the Kemiex web platform, pharmaceutical, vet, food and feed companies can buy and sell active pharmaceutical ingredients (APIs), additives, vitamins and excipients worldwide. The platform was launched on September 3 and it is now open for trading.
A fast growing global market
The global market for APIs is growing fast with recent research indicating that annual growth is forecasted at about 6% and the market will exceed US$ 219 billion by 2023. Growing at a similar pace the food additives market is expected to exceed US$ 65 billion by 2022, while the veterinary healthcare market will exceed US$ 40 billion by 2021 and the animal feed additives market US$ 28 billion by 2023.
Before we discuss the technical highlights, here is a brief overview of the most important milestones of Kemiex.
From founding to product launch
The Zurich-based Kemiex AG was founded in 2017 as a public limited company. In January 2018 Kemiex completed a seven-digit seed funding round.
At the same time, a new and unique business model was developed with the global insurance company Atradius, which was announced in March 2018. The collaboration between Atradius and Kemiex has made it possible to have trade credit insurance for single transactions. This premiere feature is made available through a one-click insurance on the Kemiex platform.
On September 3, 2018, the platform was officially launched and registered trading partners started using it.
But now let’s look at the actual core and examine the technological details of the platform, which Dream Production has been developing since 2017.
Technical highlights of the platform
Most of the business logic is controlled via the backend whereas platform users interact with each other through a single page web application (SPA) written in Angular. The SPA (frontend client) uses a RESTful web service to get data from the backend.
The Kemiex platform runs on Google Cloud. The frontend uses the App Engine and the backend the Compute Engine, with both services being fully redundant on Google Cloud, making them highly scalable and allowing platform updates to be made without end users noticing and with no downtime.
The App Engine allows the frontend to be completely scalable and the infrastructure is taking care of redundancies and handling of certificates. The monitoring of the platform is also done via Google Cloud Services.
Further services are integrated in the backend including the automatic insurance of individual trades which takes place via the Atradius Connect API. For customer management we implemented an integration with the Salesforce CRM, for transactional emails we are using SparkPost and electronic contracts are automatically processed with the help of DocuSign.
If you would like to know more about the platform or the individual features contact us and we’ll be happy to speak with you!