Nilesh Ved, chairman of Dubai-based fashion company Apparel Group, also participated in the funding round.
The New Delhi-based startup is set to launch its services in the United Arab Emirates and aims to expand into regions of Middle East and North Africa (MENA), Southeast Asia and newer cities within India.
The company had raised a total of $5 million in equity and debt before the current infusion, a spokesperson told ET.
FuelBuddy also aims to expand its services to alternative energy sources such as electricity and gas. Last month, it forayed into the lubricants space in partnership with Indian Oil Corporation (IOCL) and Hindustan Petroleum Corporation (HPCL).
With over 45,000 customers and operations in more than 130 cities, FuelBuddy claims to have served about 100 million litres of diesel to partners across the country including Varun Beverages, Coca-Cola, Amazon, DLF, Infosys, Taj, Hitachi, Amazon, Flipkart, Mahindra Logistics, and Delhivery.
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“FuelBuddy is a pioneer in the fuel-delivery business in India. We have witnessed their sizable growth in the last few years and trust them to grow exponentially in the coming years too,” said Amit Dang, CFO, Jindal Power.In May 2021, FuelBuddy acquired Bengaluru based MyPetrolPump in a cash-and-stock deal.
While FuelBuddy focused primarily on the bulk fuel category, MyPetrolPump serviced the non-bulk category.
Founded in 2016 by Adnan Kidwai and Gautam Malhotra, FuelBuddy’s service runs on an app, with a product that is Internet-of-Things (IoT) and cloud computing enabled. Apart from doorstep fuel delivery, it has fuel storage solutions.
In 2020, it appointed Sajjan Kumar Ahlawat as President. Ahlawat had over 35 years of experience in various capacities at IOCL.
He served as the overall marketing head for Bihar, UP, Delhi and Haryana for IOCL and had experience in project management, LPG business, refinery business, supply chain management, operations and marketing.
