In addition to a number of angel investors, Moonrider, an electric tractor technology company, has raised a seed round of US$2.2 million (Rs. 19 crores), lead by AdvantEdge Founders & Micelio Technology Fund.
The funds will be used to support research and develop robust skills in battery technology, vehicle software, and vehicle engineering.
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Anoop Srikantaswamy, co-founder and CEO of Moonrider, stated, ‘Our mission is to enhance farm profitability by empowering farmers to earn more, save more and produce more. Our electric tractors are designed to cater to diverse farming needs, delivering superior performance, boosting farmer income, and promoting climate-friendly farm mechanization. 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. We are proudly Made in India, for the world.’
With a wide selection of heavy-duty electric tractors, the Bengaluru-based business promises to lower fleet operators’ and farmers’ operating expenses. The company claims that its tractors are now priced on par with diesel rivals thanks to its robust supply network and engineering know-how.
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Shreyas Shibulal, founder, Micelio Fund stated, ‘We are very excited about our partnership with Anoop, Ravi and the entire Moonrider team. We believe we are at the right intersection point for electric tractors given the technology and business model evolutions. At Micelio Fund, we aim to back disruptive and sustainable innovations that push the envelope of clean mobility and Moonrider feels right at home.’
About Moonrider
Moonrider, an innovative electric tractor firm founded in 2023 by Anoop Srikantaswamy and Ravi Kulkarni, is transforming agriculture worldwide with its state-of-the-art equipment and battery technology.
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