Overview

• Jungle Ventures and CE-Ventures co-led the round, with participation from Rubamin, PI Industries’ Mayank Singhal and existing backer IndiaQuotient.
• Total funding now stands at $10.8 million following last year's $3.1 million seed round.
• Distil will deploy the capital toward R&D, procurement, technical sales and establishing overseas operations in the US, Middle East and Africa.
• The company reports roughly $7 million in annual revenue, more than 100 enterprise customers and a 19-member scientific team, and it targets $25–30 million revenue with breakeven in the next 12 months.
• Distil pursues an R&D-led, asset-light model that partners with smaller plants and it plans to acquire underutilised facilities over the next five years to ramp capacity.