In its pre-series round, fuel-tech platform Nawgati has raised $2.5 million. a funding round headed by Ajay Upadhyaya, in which MeitY Startup Hub, Aamara Capital, Deepak Bhagnani Family Office, and additional angel investors Sanjay Sharma, Ashish Sharma, Prithvijit Roy, and Vivek Mathur participated.
Previously, MapmyIndia and other investors contributed $1.67 million to the Noida-based company.
The money will be utilized to expand internationally and bolster its regional presence throughout India, according to a press release from Nawgati.
A fuel management app that assists consumers and businesses in tracking fuel consumption, locating the closest fuel stations, and possibly controlling fuel expenses is the main product of Nawgati, which was co-founded in 2019 by Vaibhav Kaushik, Aalaap Nair, and Aryan Sisodia. Additionally, it offers a dashboard called Aaveg that allows fuel stations to track their operations in real time.
Furthermore, the startup facilitates real-time monitoring of crucial station functions, enabling improved forecasting, more intelligent resource allocation, congestion control, strong compliance enforcement, and mobile strategic decision-making.
Nawgati intends to expand its fleet offering, which is currently operational with Mahanagar Gas, to other significant fuel providers in order to further its goal of providing fleet operators and fuel stations with smarter, more connected solutions.
