- This partnership highlights government’s keen interest in addressing the growing need for digitization in the fuel sector
- Nawgati will utilise the capital infusion towards improving their technology, and geographical expansion and fuel pump station onboarding over the next quarter
New Delhi [India], January 04, 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.
You May Also Like This
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.
About Nawgati
Founded by Aalaap Nair, Vaibhav Kaushik, and Aryan Sisodia, Nawgati, a home-grown, innovative Fuel Aggregator start-up, is on a mission to revolutionise the fuel station experience in India. By providing an intelligent retail ops platform, Aaveg, to fuel stations, and India’s largest fuel discovery app, the Nawgati Fueling App, to end-consumers, Nawgati aims to save valuable time for both fuel providers and consumers, significantly reduce congestion, and improve overall operational efficiency. Nawgati gained recognition when it was featured on Shark Tank Season 2, solidifying its position in the market and attracting prominent investors.
About GAIL
GAIL is India’s biggest natural gas marketing and trading firm and owns 60 percent of the country’s 26,284-km gas pipeline network, giving it a stranglehold on the market. The firm owns and operates large network of Natural Gas pipelines of – 14380 Km; two LPG Pipeline systems of – 2000 Km spread all over India. The government has a 51.45% stake in GAIL India.
