PE-VC Fund Investments
Cooking oil recycler Ecoil raises $2.5 M led by Fundalogical Ventures
Delhi-based Ecoil has raised around USD 2.5 million in a Series A funding round led by Fundalogical Ventures with participation from Caspian Impact Investment, Momentum Capital, and existing investor The Chennai Angels.Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, Ecoil focuses on collecting and disposing of used cooking oil. It partners with restaurants, hotels, and food businesses to collect used cooking oil for the production of biofuel and sustainable aviation fuel.The company plans to use the funds to scale its operations, enhance its technology platform, and expand into additional markets across India. The company is developing a technology-led collection and logistics network to improve traceability, compliance, and aggregation of used cooking oil in India, aiming to structure the fragmented supply chain and create stable income opportunities.
In Nov-23, Ecoil had attracted about USD 0.03 M from Shell Technology Ventures.
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