Inflection Point Ventures led 11.5 Cr Pre-series A funding raised by Buyofuel
Summary
Inflection Point Ventures, the leading investor in the Pre-Series A round, raised over 11.5 crores for the online marketplace for alternative fuels Buyofuel (IPV).Venture Catalysts, LetsVenture, Lead Angels Fund, and Gruhas Proptech all contributed to the round. a buyer base with a monthly purchase capacity of over 6,00,000 metric tonnes and a seller base with a monthly selling capability of over 20,000 metric tonnes.Biofuels are a powerful alternative fuel substitute for most of the mainstream fossil fuel options whether diesel, petrol, or even CNG. Buyofuel has the ambition to scale its business and make the adoption of clean fuel options seamless and more efficient. At IPV, we are keenly watching the ESG and Cleantech segments and have made bets across different business models. We are glad that Buyofuel got to benefit from the tremendous experience that the IPV team brings with it, said Kishan Karunakaran, Founder, and CEO, Buyofuel.With a daily supply of biodiesel, solid biofuels, and organic waste, it now has over 1600 confirmed registered consumers.