Fuel delivery startup FuelBuddy has raised $20 million in its most recent round of financing, which was spearheaded by multinational corporations Naveen Jindal Group, Ravi Jaipuria Group (RJ Corp), and Nilesh Ved (Apparel Group, UAE).
The company, which is based in New Delhi, intends to grow both domestically and abroad, particularly in Southeast Asia and the MENA (Middle East and North Africa) area. It earlier declared its intention to enter the UAE market and now says it will soon be prepared to begin offering its services there.
Additionally, the cash will be utilised to upgrade its technological foundation and broaden its service offerings to include other energy like gas and electric mobility.
FuelBuddy and What Does the Investment Mean
FuelBuddy is a mobile app that helps drivers to save money on fuel and find the best prices in their area. The app was recently acquired by a major automotive company, which indicates that the potential of FuelBuddy is recognized by the industry. This article will explore what FuelBuddy is, how it works, and what this acquisition means for the future of FuelBuddy.
FuelBuddy’s Technology Stack & Plans for Upgrades
FuelBuddy is an innovative platform that helps users to find the best fuel prices in their area. Its technology stack includes a wide range of tools and technologies such as machine learning, artificial intelligence, natural language processing, and cloud computing. This technology stack allows FuelBuddy to provide its users with accurate fuel prices within seconds.
FuelBuddy is continuously upgrading its technology stack to ensure that its users have access to the latest features and services. The company plans to add more advanced features such as predictive analytics and personalized recommendations in the near future. These upgrades will further improve user experience and help them save time and money while finding the best fuel prices in their area.
Investment is Good News for FuelBuddy Users
FuelBuddy users have something to look forward to with the recent investment announcement. This investment will help FuelBuddy develop and improve their services, making it easier for users to find the cheapest fuel prices in their area. It will also help them expand their user base and reach more people. With this new funding, FuelBuddy can invest in new technology and features that will make it easier for users to compare fuel prices and find the best deals. This investment is good news for FuelBuddy users as it will give them access to better services and more options when looking for fuel prices.
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Key Points
- FuelBuddy is a doorstep fuel delivery startup that was established in 2016 by Adnan Kidwai, Divij Talwar, Gautam Malhotra, and SK Narvar.
- The startup fuel delivery company will use the funds to launch operations in the UAE and expand throughout India and Southeast Asia (SEA).
- The business provides cloud computing-based supply chain solutions so that customers can utilise analytics to manage and keep an eye on their fuel usage.
- FuelBuddy, which was founded in 2016, provides doorstep fuel delivery using IoT (internet of things) and cloud-enabled technologies to address problems with fuel procurement and storage, such as theft, spillage, pilferage, and monitoring and managing use.
- With its relationship with two oil marketing firms, Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited, FuelBuddy has also just entered the lubricants sector (HPCL).
- The business, which has operations in more than 130 towns across the nation, says it has more than 45,000 clients. To date, it has fulfilled diesel deliveries of around 10 crore litres to its partners all over the nation. Some of its well-known clients include Varun Beverages Ltd., Coca-Cola, Amazon, DLF, Infosys, Taj, Hitachi, Amazon, Flipkart, Mahindra Logistics, and Delhivery.
- The company had previously raised Rs 40 crore from investors, including the Jaipuria Family Office, before this round. The chairman of Capital India Corp., SK Narvar, is promoting the startup.
- This round is a strategic investment to advance our goal of aggressive worldwide growth for FuelBuddy. We are certain that FuelBuddy will become a market leader on a global scale as well.
- FuelBuddy’s game-changing solutions for the Indian market have accelerated our growth and strengthened our business globally.
- FuelBuddy purchased Bangalore-based startup MyPetrolPump for cash and stock in May 2021 to increase its dominance in the specialised market. The agreement also enabled the business to reach out to other markets and clients.
Conclusion: Investing in Tech Upgrades is Crucial for Companies
In today’s competitive business landscape, investing in tech upgrades is essential for companies that want to remain ahead of the curve. Technology has changed the way businesses operate, and staying up-to-date with the latest trends and advancements can give companies a competitive edge. From AI-driven automation to cloud computing, there are many ways for businesses to leverage technology to improve their operations and stay ahead of their competition. Investing in tech upgrades can help companies save time, money, and resources while improving their overall efficiency.