Naveen Jindal Group, Others Invest $20 M In FuelBuddy

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FuelBuddy, a mobile energy distribution platform that provides a sustainable solution for businesses today announced raising a round of $20 million from global conglomerates led by Naveen Jindal Group, Ravi Jaipuria Group (RJ Corp) and Nilesh Ved (Apparel Group, UAE).

The New Delhi-based company witnessed major growth and expansion by being a category creator and filling a gap in the fuel-delivery business in the country. FuelBuddy had previously announced its intent to expand into the UAE market and is now ready to launch its services there shortly. 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 and Hindustan Petroleum Corporation.

Talking about the funding, Amit Dang, CFO, Jindal Power, said, “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.”

Nilesh Ved added, “FuelBuddy is working towards accomplishing India’s goal in becoming a technology-first nation. With this latest funding, we believe that FuelBuddy is ready to set their mark in Dubai and venture into the GCC region as well.”



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