ECOIL Secures $2.5 Million Series A Funding Led by Fundalogical Ventures
ECOIL has raised $2.5 million in Series A funding, led by Fundalogical Ventures, to expand its operations in sustainable waste management. This capital will enable the startup to enhance its technology infrastructure and logistics network, crucial for increasing the supply of used cooking oil for biofuel production.
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ECOIL has completed a Series A funding round, securing $2.5 million, with Fundalogical Ventures as the lead investor. The funding will be allocated towards expanding operations and strengthening the company’s logistics and technology infrastructure, allowing for larger feedstock volumes.
Other investors include Caspian Impact Investment and Momentum Capital, alongside early seed support from Shell. ECOIL's mission includes creating a structured collection system for used cooking oil to supply biofuels and sustainable aviation fuel (SAF).
This initiative aims to improve the sustainability of waste management in India, incorporating informal workers to ensure safe and environmentally friendly collection processes. The startup could significantly enhance the renewable energy sector by ensuring a reliable feedstock supply.
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