With the help of a group of angel investors including AdvantEdge Founders and Micelio Technology Fund, Moonrider, an electric tractor technology firm, has received $2.2 million (Rs 19 crore) in its seed round.
According to a news statement from Moonrider, the money will be used to promote innovation and develop strong skills in battery technology, vehicle software, and vehicle engineering.
Anoop Srikantaswamy and Ravi Kulkarni created Moonrider in August 2023, utilizing their vast experience in vehicle engineering and electric vehicle research and development from the Volvo Group, Ola Electric, and Olectra BYD.
With a wide selection of heavy-duty electric tractors, the Bengaluru-based business promises to lower fleet operators’ and farmers’ operating expenses. The business claims that its tractors are now priced on par with diesel rivals because to its robust supply network and engineering know-how.
With an emphasis on dependability and a lower initial cost of ownership, Moonrider’s tractors support environmentally friendly farming methods with the goal of increasing farm production and profitability.
Additionally, the business has created proprietary battery technology for which a patent has already been submitted.
