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Electric motors maker Naxatra Labs raises $3-M led by Rainmatter

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Ahmedabad-based Naxatra Labs has raised USD 3 million in a pre-Series A funding round led by Rainmatter with participation from Mohit Tandon (Delhivery), Himanshu Aggarwal (Aspiring Minds), Vijay Shekhar Sharma (Paytm), Aloke Bajpai (Ixigo), Anupam Jalote (iCEM), Narayan (Ather Energy), and other founders, operators, and angel investors.Naxatra Labs manufactures high-efficiency electric motors for electric vehicles and industrial applications. The company develops motors end-to-end, encompassing electromagnetic design, validation, and manufacturing.The company plans to use the fresh capital to expand product lines, strengthen its research and development efforts, and scale its manufacturing capacity to 50,000 motors per month. Additionally, it aims to grow its engineering and operations teams.

In Dec-24, Naxatra Labs had attracted about USD 0.50 M from GVFL, Rainmatter Capital, VSS Investments Fund, and others.For FY24, Naxatra had reported about INR 0.03 Cr in Operating Income and about INR 0.12 Cr in Net Loss.