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Fuel aggregator startup Nawgati has secured $2.5 Mn (around INR 21.10 Cr) in its Pre-Series A funding round led by angel investor Ajay Upadhyaya.
The round also saw participation from Elevation Capital’s former partner and COO Vivek Mathur, Deepak Bhagnani family office, MeitY Startup Hub, investment firm Aamara Capital and other angels, including former Accenture MD Sanjay Sharma and BRIDGEi2i founders Ashish Sharma and Prithvijit Roy.
The startup plans to use the fresh capital to scale up its fleet management offerings for fuel stations and fleet operators, boost its digital solutions and expand its domestic and global presence.
The company is also scaling its fleet offering, which is already live with Mahanagar Gas, to other major fuel companies, advancing its mission to deliver smarter, more connected solutions for fleet operators and fuel stations, it said in its statement.
Fleet management is the strategic process of overseeing a fleet of vehicles to optimise efficiency, reduce costs and ensure compliance with regulations.
Founded by Vaibhav Kaushik, Aalaap Nair and Aryan Sisodia in 2019, Nawgati claims to build congestion management and compliance monitoring systems for fuel stations, helping fuel stations manage traffic and avoid congestion.
The platform claims to enable better utilisation of fuel networks, streamlining refueling operations, reducing wait times, and offering real-time visibility into fuel availability and fleet movement for the public.
“With this round, we are focused on deepening our presence in India and accelerating our entry into global markets,” Kaushik said.
Nawgati also offers real-time oversight of critical station operations, allows forecasting, resource allocation, congestion management and compliance enforcement, as per its statement.
The funding comes after the startup received capital infusion of INR 1 Cr from GAIL via PSU’s startup initiative, Pankh in January last year.
Prior to that, Nawgati secured an undisclosed sum in its seed funding round led by All in Capital in 2023.
The development comes at a time when India’s fleet management market size reached $1.2 Bn in 2024 as per a market research company IMARC Group report.
The report expects the market to reach $3.0 Bn by 2033, witnessing a growth rate (CAGR) of 10.21% during 2025-2033. Notably, the market’s growth is driven by the integration of telematics and Internet of Things (IoT) technologies that allows real-time tracking of vehicles, monitoring driver behavior, and collecting data on vehicle health.
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