Ratan Tata-backed energy distribution startup Repos is expected to grow by close to three-fold to Rs 185 crore in the current fiscal on account of increased traction for its service among business-to-business clients, a top official of the firm said.
Repos Energy founder and CVO Aditi Bhosale Walunj told PTI at the Auto Expo 2023 that the company is in the process of raising Rs 300 crore to fund expansion of business across India as well as a platform to offer carbon-neutral fuels such as ethanol and electric vehicle chargers.
"We have been fortunate enough to have Mr Ratan Tata as our initial investor. Last fiscal year we did business of Rs 65 crore. Our business has been growing multifold. This fiscal we expect our top line to be around Rs 185 crore," Walunj said.
She said that the company's fuel distribution platform is mainly built around the delivery of diesel but it is now adding new fuels to the platforms to make it available at the doorsteps of end consumers with the help of technology.
"Like ATMs, we are providing mobile fuel stations. It is helpful for enterprises to get fuel at the doorstep, check fuel theft, monitor fuel consumption etc. We are now present in 280 cities across India where we have deployed over 2,000 mobile fuel stations. Now we are in the process of raising Rs 300 crore which we will use to further expand our presence and develop technology for the distribution of carbon neutral fuels," Walunj said.
Repos recently onboarded management expert Ram Charan on its advisory board for mentoring the company towards growth path.
With 40 years of experience, Charan has been a consultant to global organisations like Toyota, GE, Bank of America, Honeywell, Aditya Birla Group, Novartis, Fast Retailing (Uniqlo), and Matrix.
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First Published: Jan 15 2023 | 3:08 PM IST