Doorstep delivery startup FuelBuddy is looking to expand its presence across India and Southeast Asia and soon start operations in the UAE market, after it recently raised $20 million. The New Delhi-based startup, which was founded in 2016, is also looking to improve its tech stack and expand to alternate energy such as electricity and gas.
FuelBuddy is a doorstep fuel delivery service that provides fuel to its customers wherever they are. The company has a fleet of delivery trucks that transport fuel to customers' locations, saving them the trouble of going to a fuel station. Gautam Malhotra, Managing Director of FuelBuddy, recently spoke to CNBC-TV18 about the company's expansion plans.
According to Malhotra, the company is looking to add 50-70 more cities to its service area in the current financial year. This would bring the total number of cities that FuelBuddy operates in to over 100. The company's expansion plans come on the back of its recent funding round, where it raised $30 million in January 2023.
“Everybody needs fuel for the generators, for their stationary assets, even for the earthmoving equipment for construction etc,” he said.
“We are looking at minimum 50-70 more cities to add in this financial year,” he added.
Government-backed Open Network for Digital Commerce (ONDC) has the potential to increase India’s digital consumption by five times to around $340 billion by 2030 — a report by ONDC and McKinsey said.
CNBC-TV18 spoke to ONDC Chief Executive T Koshy about what kind of transactions the platform has witnessed in the year of operation.
“From five cities, we are there in 226 cities. In December, we had 30-40 transactions per month. Today, all the things together, we have something like 30,000 transactions a day. This is among the various segments. We started with grocery and food and started mobility recently but mobility has risen up pretty fast, 23,000 transactions may be from mobility,” he said.
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