en.Wedoany.com Reported - Indian clean energy startup Ecoil has completed a funding round, raising approximately $2.5 million. The round was led by Fundalogical Ventures, with participation from Caspian Impact Investment, Momentum Capital, and existing investor The Chennai Angels. The funds will be used to expand operations, strengthen the technology platform, and increase market share in key Indian markets.

Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, Ecoil's core business is collecting and managing used cooking oil from food businesses such as restaurants and hotels. The company tracks the oil through a technology-driven logistics network to ensure compliance with regulatory requirements before it is used in the production of biodiesel and sustainable aviation fuel (SAF).

Ecoil states that used cooking oil is a key raw material for biodiesel and SAF, but a significant amount remains scattered across small food establishments. Due to a lack of systematic collection, this oil often re-enters the food chain through informal channels or is disposed of improperly, posing threats to public health and the environment. This funding will help the company improve its collection supply chain, addressing the core bottleneck of raw material integration for biofuels.

Investor Anil Saldanha noted that Ecoil is addressing industry pain points through large-scale raw material integration, aligning with the demand growth driven by biodiesel and SAF blending targets. Ankur Shrivastava added that while the concept of used cooking oil recycling is widely discussed, establishing a reliable and traceable supply chain remains a challenge. Ecoil's model can bridge this gap, creating new opportunities for the biofuel value chain.

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