With participation from other well-known investors and operators, Jungle Ventures and India Quotient led a Seed funding round that saw the specialty chemicals platform Distil secure $3.1 million.
Since the introduction of First Cheque, a program for collaborating with seasoned operators and first-time entrepreneurs at the idea, pre-seed, and seed stages, this is Jungle’s first India Seed investment.
Distil is a tech-enabled platform that provides fully customizable and scalable solutions for the procurement of specialty chemicals. It was founded by Atanuu Agarrwal, Karan Hirani, and Viraj Shah.
Formulations and custom manufacturing are two of Distil’s offerings that are intended to assist manufacturers in satisfying particular performance and regulatory requirements. Its platform also offers a technologically advanced purchasing process that, through a strong nationwide network of stock locations, guarantees consistent product quality, satisfies quantity requirements, and shortens lead times and minimum order quantities.
Historically, inefficiencies have beset the value chain for specialty chemicals. By utilizing the experience of its founding team in the areas of specialty chemicals, supply chain, and finance, Distil addresses these pain points at every stage of the value chain.
Distil intends to create exclusive goods and position itself as a reliable specialty chemicals brand in the life sciences industry, encompassing food ingredients, pharma, personal care, and flavors and fragrances, both in India and in important foreign markets like the US, EU, and MENA region.
