Distil Bags $7.7M Funding to Expand Global Footprint in Specialty Chemicals

Indian specialty chemicals startup Distil has raised $7.7 million in Series A funding, led by Singapore’s Jungle Ventures and CE-Ventures, the corporate venture capital arm of UAE-based Crescent Enterprises. The round also saw participation from Rubamin, Mayank Singhal (Vice Chairman of PI Industries), and early investor India Quotient.

This follows Distil’s earlier $3.1 million seed round, backed by Jungle Ventures’ First Cheque@Jungle initiative. In total, the company has now secured $10.8 million across both rounds.

Founded in 2021 by Atanu Agarwal and Viraj Shah, Distil develops advanced specialty chemicals for industries such as paints and coatings, plastics, and construction materials. Distil differentiates itself with an R&D-led, asset-light model, tapping into India’s underutilized chemical manufacturing capacity to scale production efficiently while maintaining flexibility in product development.

The company has achieved strong early traction, growing from pre-revenue to nearly $7 million in annual sales within a few years. It currently serves over 100 enterprise customers and employs 19 researchers and engineers dedicated to chemical innovation.

The newly raised capital will be used to expand Distil’s product portfolio, strengthen enterprise partnerships, and enhance R&D capabilities. The startup also plans to build out global procurement and technical sales functions as it expands into North America, Europe, the Middle East, and Africa. Over the next five years, Distil aims to acquire underutilized plants, further boosting production capacity while keeping capital costs low.

“This funding will help us accelerate our mission to innovate, scale, and make India a hub for advanced chemical solutions,” said co-founder Agarrwal.

With revenues targeted at $25–30 million and break-even expected within 12 months, Distil is positioning itself as a rising force in India’s fast-growing specialty chemicals sector.