Thursday, September 29, 2022
HomeInsightFunding Alert Nawgati raises funding from MapMyIndia

[Funding alert] Nawgati raises funding from MapMyIndia

Fuel aggregator Nawgati has secured an undisclosed sum of investment from MapmyIndia at a $4 million value.

Fuel aggregator Nawgati has secured an undisclosed sum of investment from MapmyIndia at a $4 million value.

The B2B2C startup that manages congestion and monitors compliance creates cutting-edge fuel station technologies. It is developed and supported by the Ministry of Electronics and IT and the incubator PIED Society at BITS Pilani.

The company will utilise the funding to bolster its core team as it works with all of India’s main fuel companies to expand Aaveg.

Read also – [Funding alert] EVeez raises funding from Ev2 Ventures, others

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.”

At the Delhi-area CNG stations operated by Indraprastha Gas Limited, Nawgati’s service, Aaveg, is currently live. With Indian Oil and Mahanagar Gas, the company has conducted experimental projects; deployments with Gujarat Gas, Sabarmati Gas, and Adani Total are also planned. Aside from Think Gas, Torrent Gas, Indian Oil CGD, IRM Energy, HPCL, Green Gas, CUGL, and AG&P, product rollouts are also discussed with these companies.

“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”, Aalaap Nair, Co-Founder of the company said.

Read also – [Funding alert] D2C Startup Beco Raises $3 mn in Funding

About Nawgati

The B2B2C startup that manages congestion and monitors compliance creates cutting-edge fuel station technologies. It is developed and supported by the Ministry of Electronics and IT and the incubator PIED Society at BITS Pilani.

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