Manufacturer of trenching, turf, and construction equipment Autocracy Machinery has raised $1.2 million in a seed round headed by Venture Catalysts.
HEM Angels, VC Grid, S Four Capital, Nikhil and Bharat Jaisinghani, Meghna Agarwal, Abhishek Rungta, Srikanth Iyengar, and Abhishek Modi have all invested in this round.
According to a press release from the company, the money will be used to increase Autocacy’s domestic and international distribution footprint, invest in R&D, and improve and streamline production.
The solutions provided by Autocracy, a company founded in 2020 by Santhoshi Buddhiraju and Laxman Vallakati, are applicable to a variety of industries, including agriculture, telecommunications, landscaping, irrigation, civil engineering, and infrastructural development. Trenchers and lawn-mowers are among the brand’s signature offerings.
The manufacturer asserts that its equipment is three times more effective and is priced affordably for both farmers and contractors.
The Hyderabad-based startup claims to have experienced a threefold increase in revenue in previous years and aims to generate Rs 60 crore by the fiscal year 2025.
With the export of goods to the Middle East and Africa, autocracy has also entered the global market.
In the B2B market for construction equipment, Autocracy faces off against companies like iQuippo, 36Spares, Metal26, Handybook, RootTruss, and Build24X7, among others.
