Specialty chemicals platform Distil raises $3.1 million in seed funding

Distil, a research and development specialised chemicals platform, has raised $3.1 million in a seed funding round led by Jungle Ventures and India Quotient, according to a press release today, June 20.

The company which was founded by IIT alumni, Atanuu Agarrwal, Karan Hirani, and Viraj Shah, offers customizable and scalable solutions through a tech-enabled platform for the procurement of these specialty chemicals.

The company is looking to address the pain points that exist in each stage of the specialty chemicals value chain by leveraging the expertise of its founding team that ranges from specialty chemicals, to supply chain and finance.

Rishab Malik, partner, of seed investments at Jungle Ventures, said, “We are pleased to lead this funding round for Distil. Their focus on solving supply chain challenges through R&D and technology aligns perfectly with our investment philosophy. The founding team is exceptionally strong, with a mix of a second-time founder and seasoned operators with over 15 years of experience in the specialty chemicals domain. The right founder profiles addressing a big problem.”

Jungle Ventures is a Singapore-based venture capital firm focused on early to growth-stage companies in Southeast Asia and India, with a focus on building long-lasting businesses.

“We resonate with Distil’s vision and believe it is poised to disrupt the specialty chemicals industry. India is emerging as a preferred manufacturing hub, and we are excited to support Distil in driving substantial impact,” commented Gagan Goyal, partner at India Quotient.

Distil is expected to use this newly secured capital to expand its teams across sales, R&D, technical/procurement, marketing, and technology development. Additionally, the company plans to develop proprietary products and establish itself as a trusted specialty chemicals franchise in the life sciences segment, including flavors and fragrances, food ingredients, pharma, and personal care, across India and key international markets such as the US, EU, and MENA region, it reported in the press release.

"At Distil, we recognize a once-in-a-generation opportunity to build a global leader in R&D-led specialty chemicals from India. The support from our partners and investors, particularly Jungle Ventures and India Quotient, marks a significant milestone as we scale our operations," said Atanuu Agarrwal, co-founder and CEO of Distil.

Distil is a platform that provides a seamless and tech-enabled purchasing process, and claims to ensure consistent product quality, meeting quantity requirements, and reducing lead times and MOQs through a robust network of stock points across the country.