ECOIL, a Bengaluru-based startup that collects and redirects used cooking oil toward biofuel production, has raised $2.5 million in a Series A round led by Fundalogical Ventures.
The round also saw participation from Caspian Impact Investment, Momentum Capital, and existing backer The Chennai Angels. Shell had previously supported the company as a seed investor.
Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, ECOIL works with restaurants, hotels, and food businesses to aggregate used cooking oil and channel it into biodiesel and sustainable aviation fuel (SAF) production. The company is building a tech-enabled collection and logistics network aimed at improving traceability and compliance across the used cooking oil supply chain — a feedstock that’s increasingly valuable as demand for low-carbon fuels grows.
Used cooking oil supply chain in India is largely fragmented and informal. The company is trying to formalise that, integrating informal workers into its collection network and bringing visibility to a supply chain that currently lacks it.
The fresh capital will be directed toward scaling operations, strengthening the technology platform, and expanding across more markets in India.
The company sits at an interesting intersection of waste management, clean energy feedstocks, and supply chain tech. With the sustainable aviation fuel market drawing attention from airlines and fuel producers globally, companies that can reliably aggregate and certify used cooking oil supply chains are becoming important within the supply chain.
