FuelBuddy raised $20 million in funds led by Naveen Jindal Group, Ravi Jaipuria Group (RJ Corp) and Nilesh Ved (Apparel Group, UAE).
FuelBuddy is a startup that provides doorstep fuel delivery. The funding will be used to launch operations in the UAE market, as well as expand across India and Southeast Asia (SEA). FuelBuddy intends to use the new funds to expand its geographical presence in India, improve its technology stack, and expand into alternative energy sources such as electricity and gas. The startup also provides fuel management services via its IoT-based products, as well as fuel storage and monitoring via IoT. The automotive fuel delivery system market is expected to reach $5.29 billion by 2027, growing at a CAGR of 5.8% between 2021 and 2027, according to a Mordor Intelligence report.