Buyofuel, an online marketplace for biofuel and wastes, raised over $1.4 million in a pre-Series A led by Inflection Point Ventures where Venture Catalysts, LetsVenture, Lead Angels Fund, and Gruhas Proptech also participated.
The startup has the largest supply base of quality assured-biofuels and fuel consumers, and it offers affordable waste and biofuel prices. The funds will be used to expand services across geographies and to develop product offerings and technology. According to the startup, it has the largest supply base of biofuels and fuel consumers. Buyer-base with a monthly purchasing capacity of more than 6,00,000 metric tonnes and a monthly selling capacity of more than 2,00,000 metric tonnes.