India, April 7 -- Clean energy startup Ecoil has raised $2.5 Mn (about Rs.23 Cr) in its Series A funding round led by Fundalogical Ventures, with participation from Caspian Impact Investment, Momentum Capital, and existing investor The Chennai Angels.

The Jaipur-based startup intends to use the fresh capital to scale its operations, improve tech and expand its presence across key markets in India.

Founded in 2018 by Sushil Vaishnav and Kirti Vaishnav, Ecoil is a sustainability-focused startup that collects used cooking oil from restaurants, hotels, cloud kitchens, and other food businesses and converts it into eco-friendly biodiesel.

According to the startup, used cooking oil is a key raw material for biodiesel and sustainable aviation...