EV-tech startup Naxatra Labs raises seed funding led by GVFL, Rainmatter Capital

Ahmedabad-based electric vehicle (EV) motor technology startup Naxatra Labs has raised a seed round of funding from GVFL, Mohit Tandon (founder, Delhivery) and Himanshu Aggarwal (founder, Aspiring Minds) with participation from Nithin Kamath’s Rainmatter Capital, Vijay Shekhar Sharma (CEO, Paytm), Aloke Bajpai and Rajnish Kumar (co-founders, Ixigo), and Narayan (Ather Energy).The proceeds will be used to expand the firm’s team across R&D and production.Founded in 2020 by Abhilash Maurya, Arnav Biswas, and Piyush Verma, Naxatra Labs specialises in creating axial flux motors for electric two-wheelers and three-wheelers, offering customised powertrain solutions.