Moonrider, an electric tractor technology company, Monday said that it has raised a seed round of $2.2 million (Rs 19 crores) co-led by AdvantEdge founders and Micelio Technology Fund, in addition to a clutch of angel investors.
The funds raised will be directed towards fostering innovation and building capabilities in vehicle engineering, vehicle software and battery technology, the company said in a statement.
Founded in August 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider offers a range of heavy-duty electric tractors that it claims significantly reduce operational costs for farmers and fleet operators.
“Our electric tractors are designed to cater to diverse farming needs, delivering superior performance, boosting farmer income, and promoting climate-friendly farm mechanisation. In recent months, we have forged strong partnerships with leading agri-players and fleet operators both in India and internationally. By leveraging our collective expertise, we aim to develop world-class solutions that elevate productivity,” said Anoop Srikantaswamy, co-founder and CEO of Moonrider.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from January 2-7, 2025.
