Fuel Delivery Startup FuelBuddy To Enter African Market, After UAE
Fuel delivery startup FuelBuddy was founded in 2016 by Adnan Kidwai, Divij Talwar, Gautam Malhotra, and SK Narvar in Delhi. FuelBuddy is an online platform that delivers fuel and sells lubricants directly to customers.
Now the company is also planning to expand its operations into Africa. Currently, the company operates in the United Arab Emirates (UAE), and it is now looking to enter one African nation.
In the long term, FuelBuddy also plans to expand its network in other countries in the Middle East.
In addition to its international expansion plans, FuelBuddy has significantly grown its operations in India. The company aims to add 50-60 cities to its portfolio, bringing the total number of cities it serves to 200.
In the last financial year, FuelBuddy sold 6.5 crore liters of fuel, and it plans to double that amount to 13 crore liters in the next financial year.
FuelBuddy has also entered the lubricants business through partnerships with state-run oil marketing companies. It has partnered with Hindustan Petroleum Corp. Ltd. and Indian Oil Corp. Ltd. to supply their lubricants to customers across India.
FuelBuddy has partnered with Indian Oil Corporation Limited (IOCL) to provide doorstep delivery of automotive lubricants last year in December.
This partnership allowed FuelBuddy customers to order lubricants from IOCL’s wide range of products and have them delivered to their doorstep.
FuelBuddy had raised $20 million in funding from a group of investors led by Sequoia Capital India in January of this year. This funding will be used to expand FuelBuddy’s operations, develop new products and services, and hire more people.
The fuel delivery startup has partnered with One Source to expand its operations to the United Arab Emirates (UAE) in May. This partnership led FuelBuddy to offer its doorstep fuel delivery service to customers in the UAE.
FuelBuddy has also introduced BPNL service last month (July 2023), which allows customers to book and pay for fuel in advance. This service is available in select cities in India and will be expanded to other cities in the coming months.