Nawgati Shark Tank Pitch:
Nawgati emerges as a cutting-edge fuel station app, revolutionizing the customer experience by providing real-time updates on nearby fuel stations and their availability. Not only does it cater to customers by ensuring timely access to fuel stations, but it also offers station owners precise information about their clientele’s vehicles, including vehicle numbers and CNG kit license renewals. Featured on Shark Tank India Season 2, Nawgati showcased a platform and mobile application facilitating fuel stations in scheduling customer appointments, effectively reducing pump waiting times.
They have two products with first one being Nawgati fuelling app which gives information to consumers about the nearest fuel stations. Their second product is Aaveg Dashboard, This provides real time key metrics for efficiency & safety through subscription model to the gas stations. They were working with Indraprastha gas and India oil at the time of pitch and were planning to work with 13 other companies. They had 6 Lakh app downloads and 1.25 lakh monthly active users and 15,000 daily active users. Aaveg Dashboard is a subscription platform where companies pay between ₹5,000-₹25000 per month.
Their September 2022 sales were at ₹4 Lakhs and company was projecting to close the year at ₹2.5 Crores. The projection for FY 23-24 are at ₹50 Crores. They were doing a seed round where they raised ₹1.8 Crores already at valuation of ₹33 Crores. They are burning ₹6 lakhs per month and it would increase to ₹15 Lakh in next couple of months due to plans to expand operations and hire more talent.
Nawgati Shark Tank Negotiations & Funding:
Namita couldn’t find an interest in the company therefore she goes out. Peyush goes out because he didn’t see any tech play. Anupam says its going to be hard to make money from this business therefore he goes out of the deal.
Aman and Amit offer ₹67 lakh for 4% of the company. Founder says that they would like to go with their previous valuation but sharks refuse. Entrepreneurs counter again at 2.5% which sharks refuse again. Sharks does revises the offer to 3% which founders accept without any hesitation and they shake hands on that.
Who are the founders of Nawgati?
Aryan Sisodia, Vaibhav Kaushik & Aalaap Nair founded Nawgati. Vaibhav is graduated from Birla Institute of Technology and Science, Pilaniv. He shared that his family also own a business and were very supportive of this venture. He also worked as Intern in Paypal. Aalaap went to BITS with Vaibhav and Aryan worked at Paypal while Vaibhav was intern there. Aryan also worked as software engineer at Microsoft.
Did Nawgati’s deal on Shark Tank India closed after the show?
Our research in the company revealed that their deal with Aman and Amit did closed after the show aired.
How is Nawgati doing after Shark Tank India?
After closing their deal with Sharks, Nawgati is thriving! Company shared in November 2023, They have have over 80 thousand gas stations and have over 12 lakh users. In December 2023, Nawgati Startup supported by the Ministry of Electronics and Information Technology under the TIDE 2.0 Scheme for successfully raising seed funding from All In Capital.
Vaibhav shared on interview with Jagran Business that their pitch went on for 2.5 hours. He added that sharks have been really helpful after the show. Amit has even given support from his CTO of Cardekho.
Source: Nawgati Instagram
Here are updates on other companies from Season 2 Episode 38.
Desmondji
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Cremeitalia
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Swytchd
Update Coming Soon!