Electric Tractor Maker Moonrider Raises USD 6 Mn in Series A Round The round was led by pi Ventures, with Singularity AMC and existing investors Advantedge Founders and Micelio Fund also participating in the investment.
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Moonrider, a Bengaluru-based electric tractor maker, has secured USD 6 million in its Series A funding round. The round was led by pi Ventures, a deep tech focused investment firm, with participation from Singularity AMC as well as existing investors Advantedge Founders and Micelio Fund.
The company said the fresh capital will support progress in vehicle engineering and battery technology while also helping speed up the development of its upcoming tractor range.
According to Moonrider, the funds will be used to refine drivetrain systems, improve battery performance, and complete durability tests in a range of soil and weather conditions across India and select international markets.
The company is preparing electric tractors in the 27 horsepower, 50 horsepower, and 75 horsepower categories for commercial launch. Co founder and chief executive Anoop Srikantaswamy said the first set of deliveries is expected by February next year.
Moonrider has signed memorandums of understanding with several clients for the supply of 6,000 tractors over the next 3 years. The company is also conducting customer trials in different regions as part of its testing programme.
Founded in August 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider focuses on heavy duty electric tractors that aim to reduce farming costs and improve operational efficiency for both farmers and fleet operators.
Its tractors are designed with in house battery systems and offer features such as mobile app connectivity, fast charging, and over the air updates. The charging options include regular charging through a home socket, AC chargers, and DC portable chargers that can reduce charging time to around 30 minutes.
The company claims to have formed partnerships with EM3 agri service in Rajasthan, a firm that provides technology and mechanisation support to farmers. It has also tied up with Samunnati, an agri focused non banking financial company that works with a large network of farmer producer organisations.
Indian companies operating in the electric tractor space alongside Moonrider include Sonalika and AutoNxt.
