Booster Fuels has raised $20 million.
The California-based company’s Series B was led by NYC-based Conversion Capital. Previous investors Maveron, Madrona Venture Group, Version One Ventures, Perot Jain LP, and RRE Ventures also participated.
The app-based mobile gas station says the influx of capital will be used to drive growth and enhance the core experience of gas delivered to your car. Booster has raised a total of $32 million to transform the gas station market.
“Booster is disrupting a $500 billion, antiquated industry with a combination of unparalleled technology innovation, distribution efficiency, and regulatory expertise,” said Christian Lawless, Managing Partner of Conversion Capital and new Booster board member.
“While autonomous and electric vehicles are certainly the future, last year more than 99% of all new autos sold in the US ran on conventional fuels, a trend we don’t see subsiding in the foreseeable future.”
Booster delivers and pumps gas in office parking lots,using custom-built purple mini-tankers that navigate tight spaces. Customers request a “boost” when they get to work, use the app to pin their car location, and get a full tank before they leave the office. Booster exclusively operates in lots where density is high, offering free delivery.
“We’re 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,” said Frank Mycroft, CEO, Booster Fuels.
“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.”
Since it launched service less than two years ago, the company has delivered more than five million gallons of gas. Major clients include Facebook, Pepsi, and eBay.