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FuelBuddy, a mobile energy distribution platform that provides sustainable solutions to businesses, has raised $20 million from global conglomerates in a funding round led by Naveen Jindal Group, Ravi Jaipuria Group and Nilesh Ved (UAE Apparel Group). With the new funding, FuelBuddy is poised to expand aggressively in India, overseas markets in the MENA region, and Southeast Asia. The funds will be used to increase its geographical presence in the country, enhance the technology used, and expand its services to alternative energy sources such as electric vehicles and natural gas.
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“This round is a strategic investment to further our vision for FuelBuddy to expand aggressively internationally. We believe FuelBuddy will become a leader in the international market as well. FuelBuddy’s transformative solution in the Indian market has helped us achieve exponential growth and strengthen our business across geographies. There is no doubt that with high standards of customer service, FuelBuddy will continue to disrupt the global energy delivery industry,” said SK Narvar.
With over 45,000 satisfied customers and business in over 130 cities, they have delivered around 100 million liters of diesel to a range of partners across the country including Varun Beverages Ltd., Coca-Cola, Amazon, DLF, Infosys, Taj, Hitachi , Amazon, Flipkart, Mahindra Logistics and Delhivery etc. According to the company in a statement, FuelBuddy has already expanded to Tier 2 and Tier 3 cities and pan-India rural areas, and is working on its presence in Africa, South Asia and Dubai.
Amit Dang, CFO of Jindal Power Limited, said, “FuelBuddy is a pioneer in the fuel delivery business in India. We have witnessed their impressive growth over the past few years and believe that they will also grow exponentially in the coming years.”
SK Narvar promoted FuelBuddy as India’s first and largest door-to-door refueling startup focused on delivering the right quality and quantity of fuel at the touch of a button.
