PE Fund Investments
On-demand fuel distribution platform FuelBuddy raises $20-M
New Delhi-based FuelBuddy, a fuel distribution platform, has raised USD 20 million in a round led by Jindal Power, RJ Corp, and Nilesh Ved (Chairman of Apparel Group, UAE) through a special purpose vehicle. The firm will use the funds to expand presence in India as well as in the MENA region and South East Asia. Founded by Ashish Gupta, FuelBuddy is an on-demand delivery app for fuel. It claims to have served over 45,000 customers. In 2021, it acquired Bengaluru-based rival MyPetrolPump. The startup's clients include Varun Beverages, Coca-Cola, Amazon, DLF, Infosys, Taj, Hitachi, Amazon, Flipkart, Mahindra Logistics, and Delhivery. FuelBuddy also recently forayed into the lubricants space via partnerships.
From the Venture Intelligence Angel Investments Database:- Between Sep 20 and Apr 21, FuelBuddy raised INR 29.5 Cr from SK Narvar, Jaipuria Family Office and Rishi Kajaria.
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