Drake Trade will also offer further working capital facilities to TFD
Singapore-based Drake Trade and Investment invested $2 million in The Fuel Delivery (TFD) as part of its pre-Series A funding round with undisclosed equity. The latter will use these funds to enhance and upgrade its IoT-enabled and tech-based platform for expanding new geographical territories and marketing.
TFD, an Indian doorstep diesel delivery company, will also foray into the Gas and EV space soon and expand overseas using this model as a plug-and-play.
Drake Trade will also offer further working capital facilities to TFD, which has been operating for the past 30 months, serving over 1,000 customers in more than 38 cities across India.
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