# Buyofuel

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/buyofuel

- Industry: Software
- Headquarters: India
- Website: www.buyofuel.com
- Total disclosed funding: $0.3M
- Latest round: Seed (Oct 9, 2021)
- Investors on record: 3

## About

Buyofuel is an Indian company specializing in an online marketplace for biofuels and waste management solutions, assisting businesses in sourcing sustainable energy alternatives.Founded in 2020 in India, Buyofuel operates as an online platform connecting buyers and sellers of biofuels. The company has completed 3 deals, with its most recent funding round being a GRANT of INR 45 million from Recur Club Technologies Pvt. Ltd. on June 13, 2023. The total amount raised by Buyofuel amounts to INR 105.51 million. The company is led by CEO Kishan Karunakaran.Buyofuel functions as a comprehensive online marketplace for biofuels, offering solid biofuels like briquettes and pellets, liquid biofuels such as biodiesel, and gaseous biofuels including bio CNG. The platform facilitates transactions for over 3,000 verified businesses across India in states like Karnataka, Telangana, Maharashtra, Gujarat, and Odisha, supporting the transition towards sustainable energy sources.In the year 2023, Buyofuel reported a revenue of INR 2,566,766.90, with an EBITDA of INR -605,534, indicating the company's financial performance in the biofuel marketplace.In June 2023, Buyofuel secured INR 45 million in funding aimed at expanding market reach and enhancing product development. The company plans to introduce new biofuel products and expand into additional geographic regions, although specific timelines for these initiatives have not been disclosed. The recent funding will play a crucial role in executing these growth strategies.

## Funding rounds

- Seed, Oct 9, 2021, $0.3M — Z Nation Lab, Inflection Point Ventures, Beacon Trusteeship Limited

## Investors

- Z Nation Lab (https://capitalatlas.ai/funds/z-nation-lab) — Seed
- Inflection Point Ventures (https://capitalatlas.ai/funds/inflection-point-ventures) — Seed
- Beacon Trusteeship Limited — Seed