Gravitate, a Tulsa, OK-based provider of AI-enabled fuel management and energy logistics software, received an investment from Falfurrias Management Partners.
The amount of the deal was not disclosed.
The company intends to use the funds to optimize fuel supply for retailers, refiners, wholesalers, and carriers.
Led by Founder and CEO, Mike Scharf, and COO, Bernard Wehbe, Gravitate is a provider of AI-enabled energy logistics software, transforming fuel supply optimization in the energy sector. Customers leverage its suite of solutions to manage and optimize fuel supply and logistics, optimize rack and customer pricing, and provide fuel customers with online channels for dynamic fuel purchasing. As part of the transaction, Gravitate has been spun-out of its parent company, capSpire, which also received a growth investment from Falfurrias.
Commenting on the news, Mike Scharf said: “This partnership with Falfurrias marks the beginning of our next chapter. We’re excited about this next stage of growth and the opportunities it presents to further solidify our market leadership, provide more value to our existing customers, invest in our core offerings, scale operations, and invest further in product development, ensuring that Gravitate remains at the forefront of the industry.”
FinSMEs
16/07/2024