Fuel Buddy funding
Fuel Buddy stated on Thursday that it has raised Rs 12.5 crore from investors, including the Jaipuria Family Office.
Founded in 2016, Fuel Buddy is a leader in the Indian fuel delivery industry. The Delhi-based company is an app-based, IoT and cloud-enabled fuel delivery service.
A statement released by the company said, “It is a tech-enabled platform which provides on-demand fuel delivery along with value-added services. The service offers a safe and secure experience, accurate quantity, and pure fuel at prevailing market prices ensuring customer convenience.”
Fuel Buddy also offers comprehensive supply chain solutions applying technology and cloud computing, hence allowing customers to use advanced analytics to manage and monitor data, it said. It had earlier raised Rs 17 crore ($ 2.3 million) in September 2020 in seed funding from SK Narvar with an additional capital commitment of Rs 17 crore on a need basis.
SK Narvar is a new generation business leader, who has guided and built successful companies in the financial services, fintech, and realty space. He currently serves as the Chairman of Capital India Corp. He believes in empowering the youth of the country and in the power of digital technologies to modify small business models. He has supported several first-generation entrepreneurs in their journey to success and in accomplishing their dreams.
FuelBuddy works intimately with the three large Oil Marketing Companies (OMCs), IOCL, BPCL, and HPCL for the acquisition of the highest grade of fuel and offering a smooth experience to the end-customer at their doorstep.
The whole policy initiative for this model has been pushed under the aegis of MoPNG (Ministry of Petroleum & Natural Gas), DPIIT (Department for Promotion of Industry & Internal Trade), PESO (Petroleum & Explosives Safety Organisation), and as a visionary initiative of Dharmendra Pradhan, Union Minister, Petroleum & Natural Gas, and Steel.
Fuel Buddy is an industry leader offering several innovative services. The company has huge growth potential and expasion opportunities.Shishir Gupta, Founder and CEO, StartupLanes
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