Clean energy startup Ecoil has raised about $2.5 million in a funding round led by Fundalogical Ventures, with participation from Caspian Impact Investment, Momentum Capital, and existing backer The Chennai Angels, The Economic Times reported.
The company said the fresh funds will be used to expand operations, strengthen its technology platform, and increase its presence across key markets in India.
Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, Ecoil focuses on collecting and managing used cooking oil from restaurants, hotels, and other food businesses. It uses a technology-driven logistics network to track the oil, ensure regulatory compliance, and channel it for biofuel production.
The startup said used cooking oil is a key raw material for biodiesel and sustainable aviation fuel (SAF), but remains widely scattered across small sources such as eateries and food outlets. In the absence of organised collection systems, the oil often re-enters the food chain, is diverted through informal channels, or is disposed of improperly, posing risks to both public health and the environment.
Investors highlighted the importance of solving supply chain challenges in the biofuels sector. Anil Saldanha said Ecoil is addressing a major bottleneck by enabling reliable feedstock aggregation at scale, especially as demand rises due to biodiesel and SAF blending targets.
Ankur Shrivastava added that while the idea of recycling used cooking oil has been widely discussed, building a traceable and dependable supply chain has remained a challenge. He noted that Ecoil’s model demonstrates that this gap can be addressed, unlocking new opportunities in the biofuel value chain.
