Piston, the US headquartered tech startup with its engineering centre in Kolkata, has raised $15 million in a Series A round of funding led by FPV Ventures with participation from existing investors Spark Capital and Pear VC.
Founded by Vikram Sekhon and Shivam Shah, Piston has built a cardless payments network connecting commercial fleets with gas stations and convenience stores.
This allows fleet owners real-time visibility into fuel spending as it happens, without issuing or managing physical cards.
And merchants gain direct access to commercial fuel demand, lower transaction costs, and the opportunity to capture the in-store purchases that come with repeat fleet traffic.
Piston will use the new capital to expand its payments network, advance product development, and add senior leaders across key areas of the business, per a statement.
