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India’s waste to fuel sector has received a significant boost as ECOIL, a technology driven used cooking oil collection and disposal platform, announced the successful closure of a $2.5 million Series A funding round. The round was led by Fundalogical Ventures, with additional participation from Caspian Impact Investment, Momentum Capital, and existing investor The Chennai Angels. Shell, which had supported the company at the seed stage, underscores the early institutional confidence placed in ECOIL’s model.
Solving an Unorganised Market from the Ground Up
Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, ECOIL was built on a straightforward but pressing observation — India generates vast quantities of used cooking oil across its food service industry, yet the collection and utilisation of this resource remains largely unorganised. The company partners with restaurants, hotels, and food businesses to systematically collect used cooking oil and channel it towards the production of biodiesel and sustainable aviation fuel, two segments that are increasingly central to India’s clean energy ambitions.
Building a Traceable, Compliant Supply Chain at Scale
The freshly secured capital will be directed towards three core priorities: scaling existing operations, strengthening the company’s technology and logistics platform, and expanding its geographic footprint across India. Central to this expansion is ECOIL’s effort to build a traceable, compliance driven collection network that brings informal aggregators into a more structured and accountable ecosystem. This approach not only improves supply chain efficiency but also creates more stable and dignified income pathways for those operating within the informal sector.
Riding the Wave of Global SAF Demand and India’s Biofuel Policy Shift
The timing of this funding is particularly relevant. Globally, demand for sustainable aviation fuel is accelerating as airlines face mounting regulatory and commercial pressure to reduce their carbon emissions. Used cooking oil is widely recognised as one of the most viable and cost effective feedstocks for SAF production. By developing a reliable, traceable, and regulation compliant supply chain in India, ECOIL is positioning itself as a critical infrastructure player in a market that is only expected to grow.
India’s biofuel policy landscape is also evolving rapidly, with greater regulatory scrutiny around waste management and fuel sustainability creating conditions that favour organised players like ECOIL. As the company scales, its ability to deliver consistent, high quality feedstock will be its most compelling differentiator in an otherwise fragmented market.
ECOIL’s Series A marks not just a funding milestone, but a meaningful step towards building the kind of clean energy supply chain infrastructure that India’s sustainability transition will increasingly depend upon.
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