Fuel Delivery Startup FuelBuddy Secures $20 M For Global Expansion
The recent ffunding round was led by Naveen Jindal Group, Ravi Jaipuria Group (RJ Corp) and Nilesh Ved (Apparel Group, UAE)
Photo Credit : FuelBuddy,
FuelBuddy, a mobile energy distribution platform that provides a sustainable solution for businesses on Monday bags a round of USD 20 mn from global conglomerates led by Naveen Jindal Group, Ravi Jaipuria Group (RJ Corp) and Nilesh Ved (Apparel Group, UAE).
The New Delhi-based FuelBuddy had previously announced its intent to expand into the UAE market. With these fresh funds, FuelBuddy is poised for an aggressive expansion in India, the overseas markets in the MENA region, and South East Asia.
The funds will also be used to increase the geographical presence in the country, enhance the technology used and also to expand their services to alternative energies such as EV, Gas etc.
The startup also recently forayed into the lubricants space with their partnership with Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL).
Commenting on this funding, he said, “This round is a strategic investment to further the vision that we have for FuelBuddy to expand aggressively internationally. There is no doubt that with the high standards of customer service, FuelBuddy will continue to disrupt the energy delivery industry globally.”
