VC Fund Investments
Speciality chemicals procurement platform Distil raises $3.1 M
Mumbai-headquartered speciality chemicals procurement platform Distil has raised USD 3.1 million in a seed funding round led by Jungle Ventures and India Quotient, with participation from other investors.Founded by IIT-Bombay alumni Atanuu Agarrwal, Karan Hirani and Viraj Shah, Distil offers fully customisable and scalable solutions through a tech-enabled platform for procurement of speciality chemicals. The startup aims to serve India as well as the US, European Union and the Middle East and North Africa region.Distil will use the money to expand its teams across sales, research and development and other areas. The company also plans to develop proprietary products and establish itself as a specialty chemicals franchise in the life sciences segment, including flavours and fragrances, food ingredients, pharmaceuticals and personal care.This marks Jungle Venture’s first seed investment in India since the launch of its First Cheque@Jungle programme, which is aimed at investing at least USD 2 million in startups from the idea to the seed stage.
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