Nawgati Secured $2.5 Million in Pre-Series A Funding

Nawgati, a Shark Tank Featured tech startup, has recently grabbed $2.5 million in funding to streamline its workflow and enhance its services. The series A funding round was led by prominent stock market investor Ajay Upadhyaya.

Summary:

1. Nawgati, a startup founded in 2019, has raised 1 crore from Gail through the PSU’s startup initiative, Pankh. It focuses on connecting fuel stations, fleet operators, and end users. It has developed a platform called Aaveg, which offers live information on fuel availability, fleet movements, traffic levels, and station resource usage..

2. Nawgati’s fleet management solution is currently operational with Mahanagar Gas and will be deployed with additional fuel companies in the upcoming quarters.

3. Nawgati’s technology aims to address inefficiencies in fuel management and provide digital solutions that streamline processes while reducing costs.

The round saw the contribution from the Deepak Bhagnani Family Office, MeitY Startup Hub, Aamara Capital, and a roster of renowned profiles, including Sanjay Sharma (former MD, Accenture), Ashish Sharma and Prithvijit Roy (co-founders, BRIDGEi2i), and Vivek Mathur (former Partner & COO, Elevation Capital).

Earlier to this round, the startup has raised 1 crore from GAIL via PSU’s startup initiative, Pankh, last year, in January.

What is Nawgati?

Nawgati, founded in 2019 by Vaibhav Kaushik, Aalaap Nair, and Aryan Sisodia, has developed a platform that connects fuel stations, fleet operators, and end users to address long-standing difficulties in a sector where innovation has stagnated.

The core of its solution is Aaveg, an exclusive system that offers live information on fuel availability, fleet movements, traffic levels, and station resource use. By reducing waiting times and enhancing transparency in operations, the startup assists fuel providers and fleet managers in managing logistics and meeting compliance standards.

Its fleet management service is currently working with Mahanagar Gas and will be expanded to include additional fuel companies in the future quarters.

“Nawgati is addressing a critical challenge in a space that affects millions of people every day but has seen little innovation,” said Ajay Upadhyaya, the investment leader.

The Shark Tank India-featured business will use the funds raised to expand its operations in India, improve its digital infrastructure for fleet operators and gasoline stations, and support worldwide expansion goals.

“We are grateful to have the backing of such a distinguished group of investors who share our belief in transforming how fuel services are managed and experienced,” stated Vaibhav Kaushik, Nawgati’s CEO and co-founder.

With over 84,000 petrol stations across the country supplying more than 300 million vehicles, India’s fuel retail business is expanding rapidly. Conventional fuel stations have constraints such as ineffective resource allocation, inadequate information visibility, and traffic jams, which present an opportunity for innovative technologies such as Nawgati’s platform.

Fleet management in India is still drastically divided, with numerous vendors deploying manual systems to check fuel use and vehicle maintenance. Nawgati technology is designed to fix these inefficiencies by providing digital solutions that streamline procedures while cutting costs.

Fuel-tech platforms are a growing sector in India’s technological environment, with companies building solutions for various aspects of the energy and mobility ecosystem as the country works towards both updating its fossil fuel infrastructure and shifting to more sustainable energy options.

The company serves both B2C and B2B markets, providing self-packaging and self-drop solutions for consumers managing with home renovations, relocations, or seasonal storage requirements. For businesses, it offers a low-cost alternative to conventional warehousing, allowing start-ups and SMEs to store inventory, paper, and marketing materials without long-term contracts.

Store My Goods, also known as Nawgati, presently operates in five major cities: Delhi NCR, Mumbai, Bengaluru, Hyderabad, and Pune, and has supplied over 5,000 customers with over 50,000 months of storage subscriptions. The startup received recognition after participating on Shark Tank India Season 1.