Gravitate Receives Investment to Enhance AI-Enabled Fuel Management Software
Gravitate plans to solidify its market leadership, enhance value to existing customers, and invest in its core offerings.
Company Name: Gravitate
Location: Tulsa, OK, USA
Sector: Technology, Energy Logistics
Funding Details: Received an investment from Falfurrias Management Partners. The amount of the deal was not disclosed.
Purpose of Investment: To optimize fuel supply for retailers, refiners, wholesalers, and carriers.
Leadership: Led by Founder and CEO Mike Scharf, and COO Bernard Wehbe.
Product: Gravitate provides advanced AI-enabled software for energy logistics, focusing on fuel supply optimization. The software helps customers manage and optimize fuel supply chains, pricing strategies, and dynamic fuel purchasing through online channels.
About Company: Gravitate has been spun out from its parent company, capSpire, which also received a growth investment from Falfurrias. This strategic move allows Gravitate to focus on expanding its offerings and market reach in the energy sector. The company is dedicated to leveraging AI to enhance fuel management and logistics, providing significant operational efficiencies and cost savings for its clients.
Future Outlook: With the new investment, Gravitate plans to solidify its market leadership, enhance value to existing customers, and invest in its core offerings. This includes scaling operations and further developing its product to ensure it remains at the forefront of the energy logistics industry. CEO Mike Scharf expresses enthusiasm for the partnership with Falfurrias, highlighting the potential for accelerated growth and innovation in their sector.