Distil, a specialty chemicals startup, has raised $7.7 million in Series A funding, led by Singapore’s Jungle Ventures and UAE’s CE-Ventures, the corporate venture arm of Crescent Enterprises. Strategic investors Rubamin, PI Industries Vice Chairperson Mayank Singhal, and India Quotient also participated in the round.
This funding brings Distil’s total capital raised to $10.8 million. The company previously secured $3.1 million in June 2024 through Jungle Ventures’ First Cheque@Jungle platform.
Funding Snapshot
- Round: Series A
- Amount: $7.7 million (₹64 crore approx.)
- Lead Investors: Jungle Ventures, CE-Ventures
- Other Investors: Rubamin, Mayank Singhal (PI Industries), India Quotient
Product & Market Edge
Founded in 2021 by Atanu Agarrwal and Viraj Shah, Distil develops advanced specialty chemicals for paints, plastics, and construction materials. Operating through an R&D-first, asset-light model, it leverages India’s underutilized manufacturing capacity to scale without heavy capex.
The company has grown rapidly from pre-revenue to $7 million in annual sales, serving 100+ enterprise customers with a 19-member R&D and engineering team.
Use of Funds
The Series A proceeds will fuel portfolio expansion, enterprise partnerships, and deeper R&D investments. Distil also plans to strengthen its export pipeline, tapping global demand for cost-efficient and reliable chemical alternatives.
Competitive Landscape
Distil competes with Scimplify (which raised $40M earlier this year), Mstack, Atomgrid, Covvalent, and Elchemy, as specialty chemicals gain momentum as a high-value industrial segment.
Final Take
By combining rapid scale with an asset-light model, Distil is positioning itself as a global-ready specialty chemicals player from India. Its focus on R&D-led innovation and export expansion could reshape the country’s role in this high-value sector.
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