ECOIL has raised two point five million dollars (mn dollars) in a Series A round led by Fundalogical Ventures, with participation from Caspian Impact Investment, Momentum Capital and existing investor The Chennai Angels, and with Shell as an early seed backer. Right Pillar Advisors served as exclusive financial adviser to the transaction. The funding round will support a tech-led expansion of collection and processing networks for used cooking oil across India.

Founded in 2019 by Sushil Vaishnav and Kirti Vaishnav, the company is building a scalable circular economy network for used cooking oil that enables restaurants, hotels and food businesses to dispose of waste safely and to ensure it is channelled to sustainable biodiesel and aviation fuel production rather than re-entering the food chain. The platform combines software, logistics coordination and compliance tracking to aggregate dispersed feedstock at scale.

As India pursues higher blending targets and wider adoption of sustainable aviation fuel, feedstock availability has become a key constraint and the upstream ecosystem remains highly fragmented. Markets in Europe and the United States have shown that robust waste feedstock supply chains are essential to scaling sustainable aviation fuel, and ECOIL is positioned to address that gap in India by formalising collection channels and improving traceability. The model also creates livelihood opportunities by integrating informal sector workers into the formal economy.

Investors said Fundalogical Ventures brings experience in logistics, ports and shipping that will strengthen ECOIL's operational capabilities and accelerate its geographic expansion. Participating investors noted the company has developed a structured ecosystem to prevent waste oil from entering the food chain while reducing the supply gap for the growing biofuel industry. Right Pillar Advisors described the transaction as a vote of confidence in the waste-to-energy and circular economy sector. The funding will be used to scale operations, enhance the technology platform and expand the company's footprint across key markets.