Nawgati has raised 67 lakhs in exchange for 3% equity in the company.

Nawgati has raised 67 lakhs in exchange for 3% equity in the company. Aman and Amit invested in this startup. The owner made an ask of 67 lakhs for 2% equity.

Aman and Amit together offered 67 lakhs rupees for 4% equity. Pitcher’s counteroffer was 67 lakhs for 2.5% equity in the company. Aman and Amit gave a counter of 67 lakhs for 3% equity in the company. And the deal was done with the same.

Also Read Malaki has raised ₹50 lacs for 3% equity of the company. Peyush and Aman invested in this startup.

About Nawgati

The founders of the company are Aryan Sisodia, Vaibhab Kaushik, and Aalaap Nair. They are from Noida. Nawgati is one platform that solves the problem for customers and dealers through their two products, the Nawgati fueling app and the Aaveg dashboard. Nawgati informs the customer about the nearest gas station. Aaveg is a subscription-based dashboard that displays real-time traffic and attendee activity. This dashboard also provides other security measures. They are collaborating with Indraprastha Gas and IndianOil. They have a total of 6 lakh downloads and 1.25 lakh active users. They have 15000 daily active users.

The Aaveg dashboard connects the device to the CCTV and dispensers. It can show you the current state of everything. Vaibhav owns 35% of the company, Aalaap owns 29%, Aryan owns 23%, and investors, incubators, and advisors own 13%. They raised 1.8 crores at a valuation of 33 crore rupees.

Nawgati Business Statistics:

The monthly subscription fee varies between 5000 and 25000 rupees per station. They charge different rates for different offers, such as the congestion rate, whether or not the vehicle has undergone hydro testing, transaction billing, etc. In September, their monthly sales totaled 4 lakh rupees. This fiscal year, their revenue is expected to be 2.5 crores. They anticipate financial sales of Rs. 50 crores in 2023-24. They spent Rs. 6 lakhs last month and will pay Rs. 15 lakhs in the next two months.

What Problem Do They Solve

Nawgati creates congestion management and compliance monitoring systems for gas stations, assisting them in managing traffic and avoiding congestion. They aim to provide detailed products with India’s first fuel aggregator to Indian road traffic solutions with technology.

Nawgati Business has worked as a pilot with Indian Oil and Metropolitan Gas and has pipeline agreements with Gujarat Gas, Sabarmati Gas, and Adani Total. It has also discussed product rollouts with Think Gas, Torrent Gas, Indian Oil CGD, IRM Energy, HPCL, Green Gas, CUGL, and AG&P. Its headquarters are in Rajasthan, at Pilani.

Please visit WEXT.in regularly for more details regarding Shark Tank India Season 2 updates. If you find this piece interesting, please forward it to your friends and leave feedback in the comment section.