GAIL’s Pankh Invests INR 1 Cr in Fuel Aggregator Startup Nawgati
Indian gas refining PSU GAIL (India) has invested INR 1 crore in fuel aggregator startup Nawgati as part of GAIL’s startup initiative, Pankh.
Chennai-based supply chain startup Wiz Freight has raised INR 93.3 Cr (around $11.2 Mn) as part of its Series B funding round. Led by Japan-based SBI Investments, the round also saw participation from Tiger Global, Nippon Express Fund, Axilor Technologies Fund, Arali Investments, and Unikon Shipping Ventures. Wiz Freight plans to use the funds for growth, expansion, and general corporate activities. The startup, founded in 2020, provides services for exporters and importers, including cargo insurance, air freight, customs clearance, and more.
GAIL’s Pankh Backs Fuel Aggregator Startup Nawgati with INR 1 Cr
Indian gas refining PSU GAIL (India) has invested INR 1 crore in fuel aggregator startup Nawgati as part of GAIL’s startup initiative, Pankh. Nawgati plans to utilize the funding to enhance its technology and support expansion efforts. This investment follows Nawgati’s seed funding round led by All In Capital and a previous investment from geotech unicorn MapmyIndia. Nawgati aims to onboard over 2,000 fuel stations onto its retail operations platform, Aaveg, and improve consumer convenience.
Key Points:
- Wiz Freight, a supply chain startup, has raised INR 93.3 Cr in its Series B funding round led by SBI Investments.
- Other participants in the funding round include Tiger Global, Nippon Express Fund, Axilor Technologies Fund, Arali Investments, and Unikon Shipping Ventures.
- The startup plans to raise a total of $30 Mn in two tranches for its Series B round, valuing the company at $175 Mn.
- Wiz Freight offers services for exporters and importers, covering various aspects of the supply chain, including cargo insurance, air freight, customs clearance, and more.
- The funds will be used for growth, expansion, and general corporate activities.
This funding round comes nearly two years after Wiz Freight raised $36.3 Mn in its Series A round, also led by Tiger Global. The startup has raised over $50 Mn to date.