After govt nod, India’s first fuel delivery startup MyPetrolPump to raise funds

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Startup Details

• Startup Name: MyPetrolPump
• Founders: Ashish Kumar Gupta (IIT-Dhanbad alumnus)
• Operations Start Date: June 18, 2017
• Service: Doorstep delivery of petrol/diesel
• Business Model: Delivery charge of Rs 99 for up to 100 litres

Fundraising and Initiatives

• Funding Announcement: The company is seeking Rs 50 lakh to extend technology solutions for fuel adulteration detection.
• Scheme by Government: Launched a Rs 320 crore fund to support startups in the oil and gas sector.

Investors and Participation

• Investors: Major oil companies involved in the scheme:
  • Indian Oil: Funding 11 startups with Rs 20 crore
  • ONGC: Funding 5 startups
  • GAIL: Funding 4 startups
  • HPCL: Funding 4 startups
  • Engineers India: Funding 3 startups
  • Oil India: Funding 2 startups
  • Numaligarh Refinery: Funding 2 startups
  • Bharat Petroleum: Funding 1 startup

Funding Range

• Funding Commitment: Ranges from Rs 40 lakh to Rs 2.5 crore per startup

Summary

• Total Claim of Loss: More than Rs 40 lakh due to operational suspension
• Customer Impact: Over 300 apartment complexes and 30 schools served in Bengaluru

This summarizes the key aspects of the startup MyPetrolPump, its founders, the funding landscape, and the associated government initiatives.

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2017-10-31 00:25:33