ECOIL, a platform focused on the collection and disposal of used cooking oil, has raised around $2.5 million in a Series A funding round led by Fundalogical Ventures.
The funding round also saw participation from Caspian Impact Investment, Momentum Capital, and existing investor The Chennai Angels. Shell had previously backed the company as a seed investor.
The company plans to use the funds to scale its operations, enhance its technology platform, and expand into additional markets across India.
Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, ECOIL partners with restaurants, hotels, and food businesses to collect used cooking oil and redirect it for the production of biofuel and sustainable aviation fuel.
The company is developing a technology-led collection and logistics network to improve traceability, compliance, and aggregation of used cooking oil, which serves as a key raw material for biodiesel and sustainable aviation fuel.
ECOIL is also focused on organising what remains a largely fragmented supply chain in India. By bringing informal collectors into a more structured system, the startup aims to improve efficiency, ensure regulatory compliance, and create more stable income opportunities within the ecosystem.
With increasing regulatory attention on waste management and sustainability, ECOIL’s model positions it to play a larger role in supporting India’s transition towards cleaner fuel alternatives. The company’s expansion strategy is expected to align with rising demand for traceable and compliant feedstock in the biofuel and aviation fuel segments.
