Fuel Aggregator Startup Nawgati Raises funds at $4 Mn valuation From MapMyIndia. The startup will use the funding to launch their flagship offering “Aaveg” nationwide, a statement said.
“Nawgati’s vision is to provide our end consumers with a seamless fueling experience and at the same time, provide complete operational oversight to fuel companies. The recent funding from MapMyIndia provides Nawgati with the necessary fuel (pun intended) to onboard all major fuel providers in the country.” -Nawgati Co-Founder & CEO Vaibhav Kaushik.
Founded by Vaibhav Kaushik, Aalaap Nair and Aryan Sisodia, Nawgati builds state-of -the-art congestion management and compliance monitoring systems for fuel stations. Nawgati is incubated and supported by BITS Pilani’s incubator PIED Society, and the Ministry of Electronics and IT.
Aalaap Nair, Co-Founder said “With MapMyIndia’s investment, Nawgati hopes to take on bigger challenges, harness world-class engineering in the service of building an India-first fueling experience like no other, for fuel companies and customers alike. Through our congestion and operations management stack, we’re providing unparalleled visibility over retail ops, actionable insights, and frameworks for companies to deal with inefficiencies, choke points and opaque processes.”
“Nawgati’s offering, Aaveg, is live at Indraprastha Gas Limited’s CNG outlets in the Delhi region. Pilots have been undertaken with Indian Oil and Mahanagar Gas. Deployments are in the pipeline with Gujarat Gas, Sabarmati Gas and Adani Total. Product rollouts are also being discussed with Think Gas, Torrent Gas, Indian Oil CGD, IRM Energy, HPCL, Green Gas, CUGL, and AG&P,” Vaibhav said.
Aalaap said “Through our comprehensive fueling app, we intend to greatly enhance the fueling experience for end users, right from station discovery, to reduced wait times, payments, billing and reward mechanisms.”
Vaibhav said that Nawgati has a clear path to profitability and is on track to onboard every fuel company in India. He added that Nawgati has no competitor, on B2B or B2C fronts, India or globally. Nawgati has the first mover advantage and is creating a large network of fuel stations that are exclusive to Aaveg.
Rohit Jain, Partner and Utkarsh Sharma, Associate, Singhania& Co. advised Nawgati on the legal documentation and closing of the investment.
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