Propel Fuels Fills Up With $21M

Redwood City-based Propel Fuels, a retailer of alternative fuel, said Tuesday that it has raised $11M in a Series D funding round. The operator of a network of stations providing bio-based fuels to automobile drivers said that the funding came from existing investors Nth Power, Craton Equity Partners, and @Ventures, along with a new investor, Gentry Venture Partners. The funding came along with $10m in a debt round from CapX Partners. Propel said the funding will go to build out its network offering Flex Fuel E85 and biodiesel. The company is led by Matt Horton. More information »