Doorstep fuel delivery startup FuelBuddy raises $20 million

Doorstep fuel delivery startup FuelBuddy on Monday said it has raised $20 million (more than Rs 160 crore) from investors.

The investment was led by Naveen Jindal Group, Ravi Jaipuria Group and Nilesh Ved of UAE-based Apparel Group.

The fresh funds will be used for expansion in India, overseas markets in the Middle East and the North Africa region, and South East Asia, the company said in a statement.

They will also be used to widen services to alternative energies such as electric vehicles and to enhance technology used, it added.

Click Here For Latest Updates On Stock Market | Zee Business Live

Also read: Budget 2023: From increased capex to Vande Bharat trains, what to expect from FM Nirmala Sitharaman - check likely announcements