FuelBuddy raised $20 million in funding led by Naveen Jindal Group, Ravi Jaipuria Group (RJ Corp), and Nilesh Ved (Apparel Group, UAE).
FuelBuddy is a startup business that delivers fuel to customers’ doorsteps. The money will be utilised to begin business activities in the UAE market and to spread throughout India and Southeast Asia (SEA). FuelBuddy plans to use the new funding to broaden its geographic reach in India, enhance its technological foundation, and enter the electricity and gas alternative energy sectors. Additionally, the business offers fuel management services through its IoT-based devices, in addition to fuel monitoring and storage. By 2027, the market for automobile fuel delivery systems is anticipated to reach $5.29 billion, expanding at a CAGR of 5.8% between 2021 and 2027.