US-based car refuelling service provider Booster Fuels raised $20m in a series B round yesterday from investors including Stanford University’s StartX Fund.
The round was led by Conversion Capital and also included Maveron, Madrona Venture Group, Version One, Perot Jain, RRE Ventures Badr Investments, and US Venture.
Booster allows drivers to park their car in work and request their tank be refilled through a mobile app. The company then sends a vehicle to refuel the car on the same day at competitive rates.
The company also offers add-on services, such as window cleaning and tire checks.
Booster has now raised $32m in funding. In January 2016, Maveron, Madrona Venture Group, Version One Ventures and RRE Ventures provided $9m in series A capital.
Madrona and unnamed investors previously supplied $3.1m in seed capital in 2015.
Frank Mycroft, chief executive of Booster Fuels, said: “We are thrilled with the confidence these strategic investors have in Booster’s ability to solve the complex problem of developing a smart, consumer-friendly approach to modernizing the gas station experience.
“The challenge is much more than developing an on-demand app; our full-stack implementation is built upon our proprietary transport equipment, supply procurement, routing algorithms, and mobile experiences.
“That is why we are bringing together the brightest minds to transform a daily hassle faced by the 99% of everyday consumers who are thrilled to save time and money and actually find this new way of buying gas to be a delightful experience.”
