Synopsis
Ecoil plans to use the capital to expand its operations, strengthen its technology platform, and expand its presence across major markets in India. Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, the company collects and manages used cooking oil from restaurants, hotels, and other food businesses and use it for biofuel productionThe round also saw participation from Caspian Impact Investment, Momentum Capital, and existing investor The Chennai Angels.
The startup plans to utilise the funds to expand its operations, strengthen its technology platform, and expand its presence across major markets in India.
Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, the company collects and manages used cooking oil from restaurants, hotels, and other food businesses. It uses a technology platform and logistics network to track the oil, meet compliance requirements, and use it for biofuel production.
According to Ecoil, used cooking oil is an important raw material for biodiesel and sustainable aviation fuel (SAF), but it is dispersed across small sources such as restaurants and food businesses Without organised collection systems, it often finds its way back into the food chain, is diverted through informal channels, or is disposed of improperly, posing risks to both health and the environment, it added.
Commenting on the investment, Anil Saldanha from Fundalogical Ventures said, “Ecoil is addressing a critical bottleneck in India’s biofuels ecosystem — reliable feedstock aggregation at scale. With increasing demand driven by biodiesel and SAF blending targets, the challenge lies in upstream collection and supply chain efficiency.”
“Circularity for used cooking oil has long been discussed, but building a traceable and reliable supply chain has remained a key barrier. Sushil and Kirti have shown that this problem is solvable, unlocking meaningful offtake that did not exist before,” Ankur Shrivastava from Momentum Capital added.
