Fuel conveyance stage Fuel Buddy raised Rs 12.5 Cr from financial backers

SK Narvar advanced Fuel Buddy on Thursday reported raising Rs 12.5 crore from financial backers, including the Jaipuria Family Office.

Set up in 2016, Fuel Buddy is a pioneer in the fuel conveyance industry in India. The Delhi-based organization is an application based, IoT and cloud empowered fuel conveyance administration.

“It is a tech-empowered stage which furnishes on-request fuel conveyance alongside esteem added administrations. The help offers a free from any and all harm insight, precise amount, and unadulterated fuel at winning business sector costs guaranteeing client comfort,” the organization said in an explanation.

Fuel Buddy additionally offers total store network arrangements utilizing innovation and distributed computing, in this manner empowering clients to utilize progressed examination to control and screen information, it said.

Prior in September 2020, it had raised Rs 17 crore ($ 2.3 million) in seed financing from SK Narvar with a further capital commitement of Rs 17 crore on need premise.

SK Narvar is another age business pioneer, who has guided and assembled fruitful organizations in the monetary administrations, fintech, and realty space. He right now fills in as the Chairman of Capital India Corp. He puts stock in enabling the young people of the country and in the force of advanced innovations to change incipient plans of action. He has moved different original business visionaries in their excursion to progress and in satisfying their fantasies.

FuelBuddy works intimately with the three huge Oil Marketing Companies (OMCs), in particular, IOCL, BPCL, and HPCL for acquirement of the greatest grade of fuel and giving a consistent encounter to the end-client at their doorstep.

The entire approach activity for this model has been driven under the aegis of MoPNG (Ministry of Petroleum and Natural Gas), DPIIT (Department for Promotion of Industry and Internal Trade), PESO (Petroleum and Explosives Safety Organization), and as a visionary activity of Dharmendra Pradhan, Union Minister, Petroleum and Natural Gas, and Steel.