This foray into the UAE and Saudi Arabia provides FuelBuddy with access to newer geographies and customers as part of its global expansion plan, the company said.
Delhi-based fuel delivery startup FuelBuddy has begun doorstep fuel delivery services in the UAE and Saudi Arabia, the company said on Wednesday.
FuelBuddy, which was established in 2016, is a tech-enabled platform, which provides doorstep fuel delivery along with various value-added services. An app-based, IoT and cloud-enabled fuel delivery service, it enables customers to use advance analytics to control and monitor data.
FuelBuddy has entered into a joint venture with Sudhir Power for Gulf countries. Sudhir Power is a big construction equipment and power generator rental business company. This foray into the UAE and Saudi Arabia provides FuelBuddy with access to newer geographies and customers as part of its global expansion plan, the company said.
“These are exciting times for FuelBuddy. We have a few more strategic projects lined up which should take shape over the next 4-6 months in the African and South Asian Countries. Coupled with the expansion into the Middle East, these strategic projects will lead to huge value creation for all the stakeholders of FuelBuddy," said S.K. Narvar, promoter, FuelBuddy.
This May, FuelBuddy had acquired Bengaluru-based, on-demand fuel delivery startup MyPetrolPump, a venture owned by ANB Fuels Pvt. Ltd., for a cash and stock consideration.
The acquisition provides FuelBuddy with access to newer geographies, customers, and management bandwidth, making it the largest and the most diversified doorstep fuel delivery platform in the country.
In April, the company had raised ₹29.5 crore for meeting expansion plans.
FuelBuddy works closely with the three large oil marketing companies (OMCs), namely, Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd for procurement of fuel and providing it to the end-customer at their doorstep.