Fuel aggregator Nawgati raises funding from MapMyIndia
- ByStartupStory | September 12, 2022
Fuel aggregator has raised an undisclosed amount of funding at a valuation of $4 million from
The B2B2C firm specializes in congestion management and compliance monitoring for gasoline stations. It is fostered and funded by BITS Pilani’s incubator PIED Society, as well as the Ministry of Electronics and Information Technology. According to sources, the startup will use the funding to launch their flagship offering “Aaveg” nationwide.
“Aaveg”, Nawgati’s service, is now available at Indraprastha Gas Limited’s CNG outlets in the Delhi area. Pilots have been conducted with Indian Oil and Mahanagar Gas, and deployments with Gujarat Gas, Sabarmati Gas, and Adani Total are in the works. Think Gas, Torrent Gas, Indian Oil CGD, IRM Energy, HPCL, Green Gas, CUGL, and AG&P are also discussing product rollouts.
Nawgati’s Co-Founder & CEO Vaibhav Kaushik said, “Nawgati’s vision is to provide our end consumers with a seamless fueling experience and at the same time, provide complete operational oversight to fuel companies. The recent funding from MapMyIndia provides Nawgati with the necessary fuel (pun intended) to onboard all major fuel providers in the country.”
Aalaap Nair, Co-Founder of the company said “With MapMyIndia’s investment, Nawgati hopes to take on bigger challenges, harness world-class engineering in the service of building an India-first fueling experience like no other, for fuel companies and customers alike. Through our congestion and operations management stack, we’re providing unparalleled visibility over retail ops, actionable insights, and frameworks for companies to deal with inefficiencies, choke points, and opaque processes.”
Their aim is to significantly improve end users’ fueling experiences with their full fueling app, from station discovery to decreased holdup times, payments, bills, and incentive systems.
According to Vaibhav, Nawgati has a clear road to profitability and plans to onboard every fuel business in India. He went on to say that Nawgati has no competitors, either on the B2B or B2C fronts, in India or abroad. Nawgati has the first-mover advantage and is developing a huge network of Aaveg-exclusive fuel stations. Singhania& Co.’s Rohit Jain, Partner, and Utkarsh Sharma, Associate, assisted Nawgati on the legal documents and closure of the investment.
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