Sustainability-focused startup ECOIL has raised around $2.5 million in a Series A funding round led by Fundalogical Ventures.
The round also saw participation from Caspian Impact Investment, Momentum Capital, and existing backer The Chennai Angels. The company had earlier received seed funding support from Shell.
Expanding a Tech-Driven Collection Network
ECOIL plans to use the fresh capital to scale its operations, strengthen its technology platform, and expand into new markets across India.
Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, the company focuses on building an organised ecosystem for the collection and disposal of used cooking oil (UCO).
The startup works closely with restaurants, hotels, and food businesses, collecting used cooking oil and redirecting it towards the production of biofuel and sustainable aviation fuel (SAF).
Solving a Critical Supply Chain Challenge
ECOIL is building a tech-enabled collection and logistics network designed to improve traceability, compliance, and aggregation of used cooking oil. This is important because UCO is a key raw material for producing biodiesel and sustainable fuels.
One of the major challenges in this space is the fragmented supply chain, which often lacks transparency and efficiency. ECOIL aims to address this by bringing structure to the ecosystem while ensuring proper disposal practices.
Focus on Sustainability and Inclusion
Alongside building infrastructure, the startup is also working towards integrating informal workers into the formal collection network, creating opportunities while improving overall efficiency in the system.
With increasing focus on clean energy and sustainable alternatives, ECOIL is positioning itself as a key player in India’s growing biofuel and circular economy ecosystem.
-By Shivani Solanki
