PE-VC Fund Investments
Speciality chemicals procurement platform Distil raises $7.7 M
Mumbai-headquartered speciality chemicals procurement platform Distil has raised USD 7.7 million in a Series A round co-led by Jungle Ventures and UAE’s CE-Ventures. The round also saw participation from strategic investors Rubamin, Mayank Singhal (PI Industries) and India Quotient.Founded in 2023 by IIT-Bombay alumni Atanuu Agarrwal, Karan Hirani and Viraj Shah, Distil develops advanced specialty chemicals used in paints & coatings, plastics, and construction materials.The capital will be deployed by the firm to enhance its research and development and expand to the Middle East, Africa, and North America.
In Mar 2024, Distil had attracted about USD 3.1 M from India Quotient, Jungle Ventures, Panthera Peak Ventures, RB Investments, Singularity AMC and others.For FY24, Distil had reported about INR 0.1 Cr in Net Loss.
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