Distil Raises $7.7 Million in Series A Funding to Fuel Global Expansion

New Delhi, September 23 – The chemical manufacturing company Distil has secured Series A funding of $7.7 million (₹68 crore). The funding was led by Singapore-based Jungle Ventures and the UAE’s CE-Ventures. Besides these two, the funding round saw participation from Rubamin, PI Industries Vice Chairperson Mayank Singhal, and India Quotient. The total funding of the company now stands at $10.80 million (approximately ₹ 96 crore). The company stated that the fresh capital will help increase the pace of its R&D initiatives and also expand its global presence into countries including the US, the Middle East, and Africa.

Distil positions itself as an R&D-led, asset-light chemical manufacturer, supplying specialty chemicals to industries such as paints and coatings, plastics, and construction chemicals.

Growth Roadmap and Targets

The company has outlined an ambitious growth roadmap where it will invest $25-30 million in the topline revenues. With the new funds, the company has reduced the breakeven point to the next 12 months. Over the next five years, the company will locate and acquire underutilized chemical plants to help expand its production capabilities.

The company will also focus on global procurement and enhance its technical sales capabilities, which are part of the expansion strategy. The funds will be critical in expanding into North America, the Middle East and Africa. The company will focus on aggressive scaling, diversification, and enhancing its global presence, while aiming for sustainable long-term revenue growth.

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