Construction machinery maker Autocracy raises $1.2 M led by Venture Catalysts

Hyderabad-based startup Autocracy Machinery, a manufacturer of trenching, turf and construction equipment, has raised USD 1.2 million in its seed round led by Venture Catalysts. Nikhil and Bharat Jaisinghani, Meghna Agarwal, Abhishek Rungta, Srikanth Iyengar and Abhishek Modi along with HEM Angels, VC Grid and S Four Capital also participated in the funding round. The firm will use the funds to expand domestic and global distribution foot-print, invest in R&D and enhance and streamline production.