PE Fund Investments
Electric tractor maker Moonrider raises $6-M led by pi Ventures
Bengaluru-based Moonrider has raised USD 6 million in a Series A funding round led by pi Ventures, with participation from Singularity AMC and existing investors AdvantEdge, Founders and Micelio.Founded in August 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider is preparing its 27 HP, 50 HP, and 75 HP electric tractors for commercial launch. The deliveries are expected to begin by February next year. The company has also secured orders for the delivery of 6,000 units over the next three years and is currently conducting customer trials.The company plans to use the newly raised funds to advance its vehicle engineering and battery technology. This capital will also enable Moonrider to refine its drivetrain systems, optimise battery performance, and complete durability testing across all soil and climate conditions in India and global markets.
Between Jan 2024 and Dec 2024, Moonrider had attracted about USD 2 M from AdvantEdge Partners, Axilor Ventures, Micelio Fund and others.
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