Nawgati, a pioneering Fuel Aggregator startup based in India, has announced securing an undisclosed investment from GAIL (India) Limited, the country’s leading Natural Gas Refining PSU. This strategic partnership is expected to significantly impact Nawgati’s operations in the upcoming year, focusing on digitizing and enhancing the complete fueling journey for pump operators, companies, and end-users, thus elevating the overall industry experience. Additionally, it will provide Nawgati with valuable insights and guidance from within the industry.
The funding from GAIL comes under their flagship initiative called ‘Pankh,’ aimed at supporting promising startups and fostering innovation in the energy sector. This investment will enable Nawgati to enhance its technology and accelerate its expansion efforts. The collaboration not only reflects GAIL’s confidence in Nawgati’s potential but also underscores the government’s interest in digitizing the fuel sector, improving the fueling ecosystem, and addressing congestion on a large scale.
While the specific terms of the transaction were not disclosed, Nawgati, headquartered in Noida, plans to utilize the funds to expedite its expansion. The company’s primary focus will be onboarding over 2,000 fuel stations onto its retail operations platform, Aaveg. Aaveg is a vertical SaaS offering that provides comprehensive oversight of each fuel station through a dashboard, offering real-time monitoring of movement and resource utilization, enabling data-driven decision-making for end-users.
Expressing his excitement about the investment, Vaibhav Kaushik, Co-Founder, and CEO of Nawgati, emphasized the significance of the collaboration with GAIL in furthering the company’s mission to simplify India’s fueling experience. He highlighted the potential to expand services, improve consumer convenience, and equip fuel pump stations with cutting-edge technology across India. The aim is to make processes more efficient, effective, and transparent, ultimately reducing congestion on a large scale.
Nawgati’s innovative offerings, Aaveg and Nawgati Fueling App, have gained attention from investors and industry experts. The company has previously received funding from PIED Society (BITS Pilani’s incubator), BITS Spark, MeitY’s Startup Hub TIDE 2.0 scheme, and the Department of Science & Technology under the NIDHI Seed Support Scheme. Additionally, Nawgati has garnered support from MapmyIndia and All in Capital, furthering its vision to disrupt and improve the fuel industry.
Looking ahead, Nawgati aims to expand its platform to include a diverse range of fuel outlets, encompassing not only CNG or petrol pumps but also charging stations for electric vehicles. The company has ambitious plans to onboard 15,000 fuel outlets over the next two years, with aspirations to take its innovative solutions to the global stage.