Gas-tech startup Nawgati, based mostly in Noida, has raised $2.5 million in a pre-Sequence A funding spherical led by seasoned inventory market investor Ajay Upadhyaya.
The spherical additionally noticed participation from the Deepak Bhagnani Household Workplace, MeitY Startup Hub, Aamara Capital, and a number of other notable angel traders together with Sanjay Sharma (former MD, Accenture), Ashish Sharma and Prithvijit Roy (co-founders of BRIDGEi2i), and Vivek Mathur (former Accomplice & COO, Elevation Capital).
Beforehand, Nawgati had acquired Rs 1 crore in funding from GAIL underneath its startup help initiative, Pankh, in January final yr.
The startup that was featured on Shark Tank India is planning to make use of the contemporary capital to broaden its footprint throughout India, improve its digital infrastructure for fleet operators and gasoline stations, and kickstart its international enlargement efforts.
Vaibhav Kaushik, CEO and co-founder of Nawgati, mentioned, “We’re grateful to have the backing of such a distinguished group of traders who share our perception in remodeling how gasoline operations are managed and skilled.”
Based in 2019 by Vaibhav Kaushik, Aalaap Nair, and Aryan Sisodia, Nawgati goals to modernise India’s gasoline distribution ecosystem, which has lengthy confronted inefficiencies and a scarcity of innovation. The corporate connects gasoline stations, fleet operators, and end-users by its proprietary platform, Aaveg, which delivers real-time insights into gasoline availability, congestion, fleet motion, and station useful resource utilisation.
By lowering gasoline station wait occasions and boosting operational transparency, Nawgati allows gasoline suppliers and fleet managers to optimise logistics and meet regulatory requirements. Its fleet administration system is already operational with Mahanagar Fuel and is about to roll out with different gasoline corporations within the close to future.
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