Distil, a research-driven specialty chemicals startup, has raised $7.7 million in Series A funding, led by Singapore’s Jungle Ventures and UAE’s CE-Ventures, the corporate venture capital arm of Crescent Enterprises.
Strategic investors Rubamin, PI Industries Vice Chairperson Mayank Singhal, and India Quotient also participated in the round. With this, Distil’s total capital raised stands at $10.8 million.
The fresh capital will be used to expand its product portfolio, strengthen enterprise partnerships, and advance R&D for high-value industrial applications. The company also plans to accelerate its export pipeline, leveraging rising global demand for reliable and cost-efficient specialty chemical solutions.
Founded in 2021 by Atanu Agarrwal and Viraj Shah, Distil operates on an R&D-first, asset-light model, making use of India’s underutilized manufacturing capacity to scale production without heavy capital expenditure. Its portfolio includes wetting agents, binders, titanium dioxide, and emulsions that cater to the paints & coatings, plastics, and construction industries.
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In just over a year, Distil has scaled from pre-revenue to $7 million in annual sales, serving more than 100 enterprise customers. Backed by a 19-member R&D and engineering team, the company is now targeting international markets, including the US and Middle East.
Looking ahead, Distil projects $25–30 million in topline revenue and expects to achieve breakeven within the next 12 months. Over the next five years, it aims to acquire underutilized plants, increase output by up to five times, broaden its product range, and establish a presence across the Middle East, Africa, and North America.
