TankUp Petro Ventures: Bringing Efficiency in Fuel Management using Smart Technology
Debuted in 2016, the company combines on-demand fuel delivery, IoT/sensor technology, and analytics to enable efficient fuel management. In early 2016, Gaurav Lath & Saurabh Sharma came up with the idea of facilitating door to door fuel delivery in adherence to government rules and regulations for diesel delivery. Eventually, they started streamlining the process of diesel procurement and consumption. Today, the two-year-old company has served 8000+ assets and managed 8+ million litres of fuel and maintains long-term relationships with all its clients (partners) since inception.
Fuel as a resource wasn't managed properly in the past, and with the help of the technology, TankUp maps the entire delivery system and delivers fuel directly inside the tank of the asset. There is no fuel stored at the premise. While delivering, the company auto-calculates the reading of the tank to the mileage of the speedometer of the tank. This helps in collecting the entire data into one credible platform that is matched with other industry averages to give reminders, feedback about the consumption pattern of those assets, which in turn helps to improve the efficiency of the fuel and save money.
"Our USP is the technology that we have built in our vehicles. We map the inlet and outlet of the vehicles, and it is completely geofence. It is operated by a cloud-based server and is borne in real-time when we reach a premise. There is no chance of any pilferage or quality issue when it comes to delivering the fuel to our clients. We also back it up with the client's information and provide them seamless accountability," says Gaurav Lath, Co -Founder, TankUp Petro.
TankUp maps the entire delivery system and delivers fuel directly inside the tank of the asset
The Minds Behind
TankUp is the brainchild of Gaurav Lath & Saurabh Sharma. Gaurav comes from a family that has 50 years of experience in the oil industry. During his childhood, he wondered why people come to us, and we don't go to deliver. This concept was always at the back of his mind, and immediately after completing his education, he started TankUp with Saurabh to deliver fuel at the doorstep of the customers. He designed special vehicles by which they could do the delivery and also took care of the operational problems to help the technology build around it. The company delivers a seamless experience to its clients by saving up to 10-12 percent of their fuel cost. "As a cohesive group of engineers and operations teams, every member is empowered to take ownership. The level of dedication and sincerity they bring on board is commendable. We send them for on-the-job training, seminars, and small workshops so, they keep learning, and that's how we grow. Our employee attrition rate is very low," adds Saurabh. TankUp is in full swing and planning to make its presence felt nationwide.