Distil Raises $7.7 Million Series A to Expand Specialty Chemicals
- Distil secures $7.7 million in Series A funding led by Jungle Ventures and CE-Ventures.
- Funds will be used to expand product range, strengthen partnerships, and increase R&D efforts.
- The startup has grown rapidly to $7 million in annual sales, serving over 100 enterprise clients.
Distil, an Indian specialty chemicals startup, has raised $7.7 million in a Series A funding round led by Singapore’s Jungle Ventures and UAE-based CE-Ventures, the corporate venture arm of Crescent Enterprises. Other investors include Rubamin, PI Industries Vice Chairperson Mayank Singhal, and India Quotient. This round raises Distil’s total funding to $10.8 million since its seed round in June 2023.
Founded in 2021 by Atanu Agarrwal and Viraj Shah, Distil focuses on creating advanced specialty chemicals used in industries like paints, coatings, plastics, and construction materials. The company follows an asset light, R&D-first model by using India’s existing chemical manufacturing capacity, which helps scale production without heavy investments in new facilities.
Distil has quickly grown from pre-revenue to $7 million in annual sales. It currently serves more than 100 enterprise customers and has built a 19 member team focused on research and engineering. The fresh capital will help the company expand its product portfolio, strengthen its enterprise partnerships, and deepen research and development efforts. Distil also plans to boost its export pipeline as global manufacturers look for reliable, cost-efficient specialty chemical alternatives.
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This funding news follows a growing trend in the specialty chemicals sector, with competitors like Scimplify, which raised $40 million in a Series B round earlier this year, and others such as Mstack, Atomgrid, Covvalent, and Elchemy also gaining traction.
With this new funding, Distil is well-positioned to accelerate its growth and expand its footprint in both domestic and international markets.
