Fuel Aggregator Nawgati Secures Funding, Aims to Onboard More Fuel Pump Stations
Nawgati, a Noida-based fuel aggregator startup, has raised an undisclosed amount in a seed funding round led by All In Capital.
As per the startup, the freshly raised funds will be used to expand its presence and enhance convenience for consumers. The startup plans to use part of the funds to onboard fuel pump stations over the next six months onto their retail operations platform, Aaveg.
Nawgati | Fuel Aggregator
Founded by Aalaap Nair, Vaibhav Kaushik, and Aryan Sisodia, Nawgati is a Noida-based startup that provides a retail operations platform, Aaveg, to fuel stations and a fuel discovery app, the Nawgati Fueling App, to end-consumers.
With its offerings, the Noida-based startup aims to save time, reduce congestion, and improve overall operational efficiency for both fuel providers and consumers.
Speaking on the development, Vaibhav Kaushik, Co-Founder and CEO of Nawgati, stated that their association with All in Capital would enable the startup to expand its services. It will also enable the startup to enhance convenience for consumers and empower 2,000+ fuel pump stations with our state-of-the-art retail ops platform, Aaveg.
Kaushik added,
“The B2B platform will enable our clients to become efficient, increase their top line, and decrease their bottom line. We are excited about the positive impact our solutions will bring to both fuel companies and end-users and guide them through a convenient fueling experience.”
With this funding, Nawgati also plans to expand its platform to include a range of fuel outlets, making it a fuel-agnostic platform. This means in addition to CNG and petrol pumps, the platform will also include electric vehicle charging stations.
Statement from the Investor
Commenting on the development, Kushal Bhagia, Founder of All in Capital, highlighted the revolutionary, cutting-edge technology developed by Nawgati’s team that aims at providing ease of access and convenience in the fueling experience for both fuel providers and consumers.
Bhagia added,
“Since inception, the fuel aggregator has partnered with major fuel corporations and has demonstrated a promising future with expansion plans across the country. I am very excited about supporting Nawgati and its team’s vision of creating a seamless fueling experience.”
Over the next two years, the startup plans to onboard 15,000 fuel outlets. Prior to this round, the Noida-based startup had secured funding from the Ministry of Electronics and Information Technology (MeitY) Startup Hub Technology Incubation and Development of Entrepreneurs (TIDE) 2.0 scheme, Pilani Innovation & Entrepreneurship Development Society, which is BITS Pilani’s incubator, and from the Department of Science and Technology under NIDHI Seed Support Scheme.
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