Fuelbuddy Knowledge Corner

Doorstep Fuel Delivery Written By : Manufacturing Today 24/04/2023

Manufacturing Today interviews Gautam Malhotra (MD, FuelBuddy)

FuelBuddy, an online platform providing doorstep delivery of fuel, has experienced remarkable growth since its inception. It is transitioning from being a Fuel-as-a-service company to an Energy-as-a-service company, expanding its portfolio across the globe, enabling its vision of providing energy services to users across the world. The company plans to start its operations in the UAE market and launch its offerings in the region, replicating the success it has witnessed in India. The brand is also looking at tapping newer opportunities in India, and has aggressive growth targets across key geographies – India, MENA, and Southeast Asia.

Can you tell us about the importance of fuel delivery across industries, and how FuelBuddy is contributing to meeting the demand for this service?

Fuel procurement is an essential component of numerous industries, ranging from transportation and agriculture to manufacturing and construction. The efficient and dependable delivery of fuel is crucial to ensuring smooth operations, avoiding disruptions, and reducing costs.

In addition to the practical advantages, fuel delivery services offer convenience and flexibility to customers, enabling them to receive fuel directly at their doorstep or job site without the need to travel to a fuel depot or gas station. This is particularly beneficial for businesses that require significant amounts of fuel.

FuelBuddy has revolutionised the industry by introducing an innovative solution that provides doorstep fuel delivery while also prioritising safety, addressing common issues such as pilferage, theft, and leakage. By leveraging digital technology and data analytics, we help optimise our customers’ operations through monitoring processes and straightforward storage solutions.

FuelBuddy’s approach to fuel delivery is built on cutting-edge technology, offering customers intelligent and efficient solutions for managing their fuel requirements. Ultimately, our innovative approach to fuel delivery is helping businesses across various industries to streamline their operations and focus on their core activities, secure in the knowledge that they have a reliable supply of fuel.

FuelBuddy recently received funding of 20 million dollars. Can you tell us how this funding will be used to further improve the services offered by FuelBuddy?

FuelBuddy is transitioning from being a Fuel-as-a-service company to an Energy-as-a-service company. The recent funding of USD 20 mn will further bolster the expansion of our portfolio across the globe, enabling our vision of providing energy services to users across the world. We are working to start operations into the UAE market and are now close to launching our offerings in the region, replicating the success we have seen in India. We are also looking at tapping newer opportunities in India, and have aggressive growth targets across key geographies – India, MENA, and SouthEast Asia.

Since starting operations in 2019, how has FuelBuddy’s growth trajectory been? Can you highlight some of the milestones achieved in this period?

FuelBuddy has experienced remarkable growth since its inception, with a staggering increase of over 600 per cent in the fiscal year 2022 and 300 per cent in 2021. Our expansion has been rapid, and we are now operating in multiple cities across India, including Bangalore, Hyderabad, Delhi-NCR, Chennai, Kolkata, Pune, Navi Mumbai, Thane, Ahmedabad, Nasik, Lucknow, Kanpur, and several tier 2 cities.

Our partnerships with major oil companies, such as Indian Oil Corporation and Hindustan Petroleum Corporation Limited, have enabled us to broaden our range of services to include lubricant delivery. These collaborations have been instrumental in helping us provide more comprehensive solutions to our customers.

Looking ahead, our strategic vision is to transform from a Fuel-as-a-Service company to an Energy-as-a-Service company. With a vast and satisfied customer base of over 45,000 and operations in more than 130 cities, we are committed to democratising and digitising fuel supply in India.

What are FuelBuddy’s future expansion plans, and how do you plan to scale the business in the coming years?

Our expansion efforts are already underway in crucial growth markets, including the UAE and Mozambique, and we remain committed to expanding into more cities across India. By the end of 2023, we anticipate adding 50 more cities in India (currently we are in 180+ cities). Furthermore, we aim to broaden our range of energy-related services beyond our current offerings and explore opportunities to provide EV charging stations to our customers.

FuelBuddy is transitioning from being a Fuel-as-a-service company to an Energy-as-a-service company. Can you tell us more about this transition and the services that FuelBuddy will offer in the future?

We want to become a one-stop solution for all of our customer’s energy needs. We at FuelBuddy plan to leverage our existing infrastructure and customer base to expand into the energy space. By expanding into new areas, we are confident of capitalising on the growing demand for clean energy solutions and being the market leader in the energy-as-a-service market.

Along with the delivery of clean energy, we are also developing on-demand mobile EV charging stations for consumers. The charging stations will follow a charging on demand system, which will be managed by our central tech team here at FuelBuddy. This service will reduce the range anxiety among EV users and also help in boosting the EV charging infrastructure of the country. 

FuelBuddy recently partnered with IOCL and HPCL for lubricant delivery. Can you tell us more about this partnership and the benefits it brings to FuelBuddy’s customers?

We have recently entered into strategic partnerships with Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) to provide doorstep delivery of lubricants to our customers. This partnership allows FuelBuddy to expand its range of services beyond fuel delivery and tap into the growing demand for lubricants in the country. According to a report by Mordor Intelligence, the Indian lubricants market stood at 2.44 billion litres in 2021 and is projected to register a CAGR of 5.24 per cent to reach 3.15 billion litres in 2026.

With this partnership, FuelBuddy’s customers will also be able to place orders for lubricants delivered to their doorstep through its app and have them. The partnership with IOCL and HPCL ensures that FuelBuddy will have access to high-quality lubricants at competitive prices, which it can then pass on to its customers.

The benefits of this partnership to FuelBuddy’s customers are numerous. Firstly, it saves them time and effort, as they no longer have to visit a physical store to purchase lubricants. Secondly, FuelBuddy’s partnership with IOCL and HPCL ensures that its customers receive genuine, high-quality lubricants at competitive prices. 

How do you see mobile fuel delivery as the next big on-demand opportunity? Can you highlight some of the advantages of mobile fuel delivery, and how FuelBuddy is leveraging this opportunity to stay ahead of the competition?

The trend towards mobile fuel delivery is gaining momentum, and for good reason. It provides immense convenience to customers who no longer have to leave their premises to refuel their assets, allowing them to concentrate on their core business activities. Furthermore, mobile fuel delivery is a safer option as it minimises the risks of accidents and fuel spills during transportation, which can be substantial. 

FuelBuddy has identified and capitalised on this opportunity by offering on-demand fuel delivery services through its mobile app, utilising high-quality fuel and ensuring all safety protocols are followed during the delivery process. With a strong foothold in sectors such as hospitality, construction, mining, and heavy machinery, FuelBuddy has established itself as a leading Fuel-as-a-Service provider.

Moreover, FuelBuddy is geared up for its transition into an Energy-as-a-Service company, as it has already developed a robust supply chain, forged critical partnerships, and laid out growth strategies that will enable it to replicate its success. This strategic move will enable FuelBuddy to address the surging demand for sustainable energy solutions and provide a more comprehensive range of services to its clients. With a focus on innovation and customer service, FuelBuddy is well-positioned to lead the way in mobile fuel delivery and energy-as-a-service markets.

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