• CE-Ventures joined a USD 7.7M Series A for India’s Distil, alongside Jungle Ventures, Rubamin, and other investors.
• Distil develops speciality chemicals for paints, plastics, and construction using an R&D-driven, asset-light model with global expansion ambitions.
• The company plans plant acquisitions, output growth, and new operations in the Middle East, Africa, and North America.

Distil

CE-Ventures, venture capital arm of Crescent Enterprises participated in the USD 7.7 million Series A funding round for India’s R&D led speciality chemicals company, Distil. The round was led by CE-Ventures and Singapore-based Jungle Ventures. It also saw participation from Rubamin, PI Industries Vice Chairperson Mayank Singhal, and India Quotient.

“CE-Ventures sees significant opportunity in India’s speciality chemicals sector, supported by strong sectoral tailwinds, India’s cost competitiveness, and favourable government initiatives. Their R&D-led, asset-light model can position the company as a new benchmark for how Indian innovators can compete globally.” said Sudarshan Pareek, Senior Vice President at CE-Ventures.

Up next with the financing, over the next five years it plans to acquire underutilised plants. It also aims to scale its output up to five times, and further broaden its product range. Additionally, it aims to support R&D expansion, global procurement, and technical sales. It also aims to establish operations in the Middle East, Africa, and North America.

Speciality Chemicals

Founded in 2021 by Atanu Agarrwal and Viraj Shah, Distil is a research and development-led speciality chemicals company. It develops advanced chemicals for paints & coatings, plastics, and construction materials using an R&D-driven, asset-light model. Furthermore, it aims to tackle inefficiencies in India’s chemicals value chain by partnering with small and mid-sized plants running below capacity. The company adds research and technical expertise, enabling local manufacturers to compete on a global level. 

“Distil was founded to build a global institution in speciality chemicals from India. Our vision is to harness India’s world-class manufacturing capabilities, technical talent, and rising global importance to compete head-to-head with the world’s leading chemical majors,” said Atanu Agarrwal, Co-founder & CEO at Distil.