Specialty chemicals platform Distil raises $3.1 million in funding led by Jungle Ventures
Specialty chemicals platform Distil has raised $3.1 million in a seed funding round led by Jungle Ventures and India Quotient, with participation from other investors and operators.
This marks Jungle Venture’s first seed investment in India since the launch of its First Cheque@Jungle, a programme which aims to invest at least $2 million in early-stage startups from idea to seed stage, according to a statement on Thursday.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitThe new funds will be utilised to expand Distil’s teams across sales, research and development (R&D), and other areas. The company also plans to develop proprietary products and establish itself as a specialty chemicals franchise in the life sciences segment, including flavours and fragrances, food ingredients, pharmaceuticals, and personal care.
Distil aims to serve both the Indian market and international markets, such as the United States, European Union, and the Middle East and North Africa (MENA) region.
Founded by IIT Bombay alumni Atanuu Agarrwal, Karan Hirani, and Viraj Shah, Distil offers fully customisable and scalable solutions through a tech-enabled platform for procurement of specialty chemicals.
The company said that it addresses the pain points at each stage of the specialty chemicals value chain, which has
