New Delhi, January 06, 2024: Country’s leading gas refining PSU, GAIL (India) Ltd. has invested INR One CR under its PANKH initiative in Nawgati, a pioneering fuel aggregator startup based in India. This partnership will play a pivotal role in advancing Nawgati’s key focus areas for the upcoming year such as digitising and enriching the complete fueling journey for pump operators, companies, and end-users, elevating the overall industry experience. Furthermore, it will also provide Nawgati with valuable insights and guidance from within the industry.
The funding from GAIL, under their flagship initiative ‘PANKH’ aims at supporting promising startups and fostering innovation in the energy sector, will empower Nawgati to improve their technology and accelerate its expansion efforts. This pivotal investment not only underscores GAIL’s confidence in Nawgati’s potential but also highlights the government’s keen interest in addressing the growing need for digitising the fuel sector, enhancing the overall fueling ecosystem, and mitigating congestion on a large scale.
The Noida-based startup plans to use the funds raised to accelerate its expansion efforts. The primary focus of Nawgati will be onboarding 2,000+ fuel stations onto their retail operations platform, Aaveg. It is a vertical SaaS offering that provides comprehensive oversight of each fuel station on a dashboard, with real-time movement, and under or over-utilization of resources – allowing end-users to make data-backed intelligent decisions.
Commenting on the successful fundraising, Vaibhav Kaushik, Co-Founder, and CEO of Nawgati, said, – “We are thrilled to be recognized by India’s leading PSU, GAIL. This collaboration will further our purpose of simplifying India’s fueling experience by allowing us to expand our services, improve consumer convenience, and equip fuel pump stations with our cutting-edge technology across India. By making processes more efficient and effective, we will not only help our customers increase their top line or decrease their bottom line but also add transparency for the fuel end-consumers and lower congestion at scale.”
Nawgati’s innovative offerings – Aaveg and Nawgati Fueling App have garnered attention from investors and industry experts alike. Since inception, Nawgati has attracted funding from PIED Society (BITS Pilani’s incubator), BITS Spark, MeitY’s Startup Hub TIDE 2.0 scheme, and from the Department of Science & Technology under the NIDHI Seed Support Scheme. In addition to these, Nawgati has amassed support from MapmyIndia and All in Capital, strengthening Nawgati’s vision to disrupt and improve the fuel industry.
Nawgati intends to expand its platform to include a diverse range of fuel outlets, making it a fuel-agnostic platform. This includes not only CNG or petrol pumps, but also charging stations for electric vehicles. Nawgati aspires to take its innovative solutions to the global stage, with plans to onboard 15,000 fuel outlets over the next two years.
Corporate Comm India (CCI Newswire)
