Distil raises $3.1 million seed round led by Jungle Ventures, plans to enhance R&D and expand internationally
HomeBusiness NewsStartup NewsDistil raises $3.1 million seed round led by Jungle Ventures, plans to enhance R&D and expand internationally
Distil distinguishes itself by aggregating its existing capacities in India and integrating them with a robust R&D framework. The company’s strategy prioritises niche, complex chemicals that necessitate specialised batch processes and extensive research and development.
Specialty chemicals platform Distil has successfully secured $3.1 million in a recent seed funding round. The funding was led by Jungle Ventures and India Quotient, with additional contributions from several prominent investors and operators.
Atanuu Agarrwal, co-founder of Distil, in an interview with CNBC-TV18, highlighted that the funds would be primarily used for advancing their research & development capabilities and enhancing process engineering.
He stated, “We are a product-driven company. So the first and foremost use of funds is towards our R&D and process engineering capabilities. So you will see most of the funding being allocated towards our R&D team, set up, and our contract manufacturing platform.”
Agarrwal highlighted that the funds would also be used for bolstering business development and sales efforts, targeting markets beyond India, including North America and Europe.
Distil distinguishes itself by aggregating its existing capacities in India and integrating them with a robust R&D framework. Agarrwal explained, “We are committed to offering integrated solutions for businesses seeking to diversify and enhance resilience in their supply chains.”
The company’s strategy prioritises niche, complex chemicals that necessitate specialised batch processes and extensive research and development.
This funding also marks Jungle Ventures’ first seed investment in India since the launch of their initiative, First Cheque, aimed at supporting second-time entrepreneurs and seasoned operators in early-stage ventures.
Watch the accompanying video for the entire conversation.
(Edited by : Jomy Jos Pullokaran)
