Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights. This time, you get to discover 5 hand-picked fuel management solutions.
Global Startup Heat Map: 5 Top Fuel Management Solutions
The 5 fuel management startups you will explore below are chosen based on our data-driven startup scouting approach, taking into account factors such as location, founding year, and relevance of technology, among others. This analysis is based on the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering over 1.3 million startups & scaleups globally.
The Global Startup Heat Map below highlights the 5 startups & scaleups our Innovation Researchers curated for this report. Moreover, you get insights into regions that observe a high startup activity and the global geographic distribution of the 371 companies we analyzed for this specific topic.
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Fueloyal – Fuel Purchase Optimization
Optimizing fuel purchase is a critical aspect of cost reduction efforts for fleet managers. Erratic market fluctuations dictate the price of fuel and purchasing fuel strategically improves the efficiency of the fleet as well. Artificial intelligence-based algorithms predict the prices of fuel for purchase managers to draw insights from. To this end, global startups and scaleups are working to develop innovative fuel purchase optimization solutions.
The US-based startup Fueloyal offers Fuel Navigator, a customizable fuel purchase optimization system. The startup uses machine learning to enable fleet operators to estimate when, where, and how much fuel to purchase. The algorithm analyzes the consumption patterns and optimizes the location and timing of refueling to ensure that costs are under control. Further, the solution integrates all kinds of fuel cards that are available in the market.
Trackobox – Fuel Consumption Monitoring
Both long-distance and short-distance fleet operators incur fuel wastage expenses due to pilferage and driving attributes such as speeding. Fuel consumption monitoring, powered by The Internet of Things (IoT) sensors and GPS technology, enables fleet operators to manage multiple vehicles in the fleet and streamline their fuel consumption. Startups develop automotive sensors connected to the cloud to help companies monitor and optimize fuel consumption.
Indian startup Trackobox provides fuel consumption monitoring solutions. The startup’s Trackobox GPS device enables fleet operators to gather and transfer real-time fuel level data to the cloud. Then, the Trackobox mobile app tracks and analyzes information related to fueling, refueling stops, and drops in fuel levels.
JiFleet – Fuel Payment Platform
The demand for fuel is quite high considering the daily usage, for example, for cooking, and commuting. Diesel generators often power many houses in times of power outages. However, the frequency of transactions relating to fuel purchase and the sub-processes involved in making the payments is a challenge for a seamless customer experience. To this end, startups and scaleups develop integrated payment platforms for fuel providers, fueling stations, and fuel card financiers.
Israeli startup JiFleet is developing an integrated telematics-based payment platform. With real-time telematics data, the startup enables all key stakeholders in fuel payments to reap maximum benefits. These benefits include loyal customers for fuel companies, improved customer base for fuel card financing companies, and ease of transaction for the user.
IOTIQ – Fuel Pump Operations
Managing fueling pumps at the station is less cumbersome with the help of automation. Minimally manned fueling stations leverage software and hardware solutions to enhance the user experience and ensure a seamless experience. Startups develop innovative mobile-based applications to ensure ease of operations in fuel stations.
Australian startup IOTIQ develops the Fuellox System, integrated hardware and software solution to manage fueling stations and pumps. The startup provides a mobile app that enables fuel station managers to monitor and access the fuel pumps remotely. It allows managers to stop the pump operation in case of emergencies. For Fuel companies, the startup enables the location-based monitoring of fuel distribution and optimize distribution operations.
Movolytics – Fuel Analytics
Precise measurement, transparency, and improved decision-making are key factors for effective fuel management. IoT sensors, AI, telematics data, as well as various other hardware and software solutions show promise in terms of improved fuel management and cost reductions. Startups develop analytics tools to help increase the profitability of all stakeholders in the supply chain.
British startup Movolytics leverages patented technology for precise fuel management. The startup utilizes telematics data directly from vehicles to analyze and derive usage insights, cost reductions, and fuel pilferage. The solution takes into consideration factors including engine idling time, unauthorized vehicle use, and speeding to provide detailed fuel consumption analytics.
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