ECOIL Raises $2.5 Mn in Series A to Scale Used Cooking Oil-to-Biofuel Ecosystem

Clean-energy startup ECOIL has raised approximately $2.5 million in its Series A funding round, led by Fundalogical Ventures. The round also saw participation from Caspian Impact Investment, Momentum Capital, and existing investor The Chennai Angels, along with earlier backing from Shell at the seed stage.

Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, ECOIL is on a mission to transform how used cooking oil is collected, managed, and repurposed in India. The company partners with restaurants, hotels, and food businesses to collect used cooking oil and convert it into sustainable energy sources such as biodiesel and sustainable aviation fuel (SAF).

The fresh capital will be deployed to scale ECOIL’s operations, strengthen its technology platform, and expand its presence across more cities in India. As demand for cleaner energy alternatives rises, the startup is positioning itself as a key enabler in the circular economy by turning waste into valuable energy resources.

At the core of ECOIL’s model is a tech-enabled collection and logistics network designed to bring efficiency, traceability, and compliance to the fragmented used cooking oil ecosystem. By digitizing the supply chain, the company ensures that oil disposal is carried out responsibly while maintaining transparency across every stage, from collection to processing.

Used cooking oil is a critical feedstock for biodiesel and SAF production, both of which are gaining traction as sustainable alternatives to traditional fossil fuels. However, India’s used oil ecosystem has historically been unorganized, with significant gaps in compliance and traceability. ECOIL aims to bridge this gap by building a structured and scalable network.

An important aspect of ECOIL’s approach is the inclusion of informal workers into a formalized supply chain. By integrating them into its operations, the company not only improves efficiency but also creates livelihood opportunities while ensuring better environmental practices.

With strong backing from leading investors and a clear focus on sustainability, ECOIL is well-positioned to play a pivotal role in India’s clean energy transition. As the company continues to scale, it is contributing to a larger vision of reducing waste, lowering carbon emissions, and building a more sustainable future.