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Alternative fuel start-up Buyofuel raises Rs 11.5 cr in series A funding

The funds raised will be put towards expanding the company's services across geographies, development of product offerings as well as technology

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The start-up claims to have the largest supply base of quality assured-biofuels and fuel consumers, offering economic prices for wastes and biofuels

Aryaman Gupta New Delhi

2 min read Last Updated : Nov 17 2022 | 9:52 PM IST

Online alternate fuel marketplace Buyofuel has raised over Rs 11.5 crore in a pre-series A funding round led by Inflection Point Ventures (IPV). The round also saw participation from Venture Catalysts, LetsVenture, Lead Angels Fund, and Gruhas Proptech.

The funds raised will be put towards expanding the company’s services across geographies, development of product offerings as well as technology.

According to Ankur Mittal, co-founder and COO, Inflection Point Ventures, biofuels are a powerful alternative fuel substitute for most of the mainstream fossil fuel options whether diesel, petrol or even CNG.

“Buyofuel has an ambition to scale its business and make

Topics : startups in India fuel companies Fuel start- ups Startups Top Business Headlines Start Up India private companies Industrial Technology National Biofuels Policy

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