Saama Capital is leading the pre-Series A funding round for electric mobility tech platform AutoNxt Automation. Among the notable investors in the round were Amit Singhal, Suveer Sinha, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and others.
Prior to this, Keiretsu Forum and other investors helped AutoNxt raise Rs 6.4 crore during its seed round.
From the ground up, AutoNxt has constructed its entire assembly and supply chain system. It also constructed the high torque electric drivetrain, ready for production, at the same time.
According to the startup, it is the only company with high voltage systems on the market. The business claims to have been actively developing an automation stack driven by 5G and AI, which they are testing on a range of tractor use cases.
Designed for commercial use in a variety of sectors, including biomass plants, airports, construction, agriculture, and solar farms, AutoNxt plans to launch its first electric tractor with self-driving options later this year as part of the first phase of its business roadmap.
The startup company based in Mumbai further stated that the cost-saving technology it uses in electric tractors allows for a reduction in operating expenses of more than four times.
