Amount Raised
$20 Million
Round Type
Funding Round
GurugramEnergyOil And GasLogisticsDescription
On-demand fuel delivery service FuelBuddy said on Monday that it had raised $20 million from a consortium of conglomerates led by Naveen Jindal Group and Ravi Jaipuria Group.Nilesh Ved, chairman of Dubai-based fashion company Apparel Group, also participated in the funding round.The New Delhi-based startup is set to launch its services in the United Arab Emirates and aims to expand into regions of Middle East and North Africa (MENA), Southeast Asia and newer cities within India.The company had raised a total of $5 million in equity and debt before the current infusion, a spokesperson told ET.FuelBuddy also aims to expand its services to alternative energy sources such as electricity and gas. Last month, it forayed into the lubricants space in partnership with Indian Oil Corporation (IOCL) and Hindustan Petroleum Corporation (HPCL).With over 45,000 customers and operations in more than 130 cities, FuelBuddy claims to have served about 100 million litres of diesel to partners across the country including Varun Beverages, Coca-Cola, Amazon, DLF, Infosys, Taj, Hitachi, Amazon, Flipkart, Mahindra Logistics, and Delhivery.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 Stories“FuelBuddy is a pioneer in the fuel-delivery business in India. We have witnessed their sizable growth in the last few years and trust them to grow exponentially in the coming years too,” said Amit Dang, CFO, Jindal Power.In May 2021, FuelBuddy acquired Bengaluru based MyPetrolPump in a cash-and-stock deal.While FuelBuddy focused primarily on the bulk fuel category, MyPetrolPump serviced the non-bulk category.Founded in 2016 by Adnan Kidwai and Gautam Malhotra, FuelBuddy’s service runs on an app, with a product that is Internet-of-Things (IoT) and cloud computing enabled. Apart from doorstep fuel delivery, it has fuel storage solutions.In 2020, it appointed Sajjan Kumar Ahlawat as President
Quick answer
FuelBuddy raised $20 Million in a Funding Round round, dated January 23, 2023. FuelBuddy is based in Gurugram, Haryana, India.
- How much did FuelBuddy raise?
- FuelBuddy raised $20 Million in a Funding Round round on January 23, 2023.
- What does FuelBuddy do?
- We are India's first and largest doorstep fuel delivery service, with the goal of ensuring safety, control, and convenience are delivered with each order.
- Where is FuelBuddy based and how big is it?
- FuelBuddy is based in Gurugram, Haryana, India.
- Who are the decision-makers at FuelBuddy?
- Fundz holds 1 contact at FuelBuddy, including the Co-Founder. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Energy and Oil And Gas around the same time
Companies in the same sectors as FuelBuddy that raised within 45 days of this round, from Fundz verified event records.
- W2E CLEANTECH ENERGY raised an undisclosed amount (Funding Round) on March 9, 2023.
- VERTIMASS, LLC raised an undisclosed amount (Series C) on March 9, 2023.
- Bioreactor raised an undisclosed amount (Pre-Seed) on March 5, 2023.
- Twenty20 Energy raised an undisclosed amount (Private Equity) on March 3, 2023.
- Black Hills Corporation raised $350M (Debt Financing) on March 2, 2023.
- BioSqueeze raised $7.4M (Series A) on February 22, 2023.
Who to call at FuelBuddy, and when
A new round usually means FuelBuddy is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day FuelBuddy raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at FuelBuddy, from your own LinkedIn network
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Related People
FuelBuddy raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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