Electric Tractor Startup Moonrider Raises $2.2 Mn in Seed Round
Moonrider, a burgeoning name in the electric tractor technology sector, has recently secured a seed round of $2.2 million (approximately Rs 19 crore). The funding round was co-led by AdvantEdge Founders and Micelio Technology Fund, with participation from several angel investors.
The funds raised will play a crucial role in nurturing innovation and enhancing the startup’s capabilities in three key areas: vehicle engineering, vehicle software, and battery technology. Moonrider is keen on leveraging these funds to push the boundaries of existing technology and set new benchmarks in the electric tractor industry.
Established in August 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider benefits from the extensive experience of its founders in vehicle engineering and electric vehicle research and development. Anoop and Ravi bring a wealth of knowledge from their time at leading companies such as Volvo Group, Ola Electric, and Olectra BYD.
Based in Bengaluru, Moonrider offers a diverse lineup of heavy-duty electric tractors. The company’s tractors are touted to significantly lower operational costs for farmers and fleet operators, providing a cost-effective and sustainable alternative to traditional diesel tractors. Moonrider showcases its engineering prowess and robust supply chain as key factors in achieving price parity with these diesel counterparts.
Moonrider’s tractors are designed with a strong emphasis on reliability while minimizing the upfront cost of ownership. This makes them an attractive proposition for farmers looking to adopt sustainable farming practices. The ultimate mission that drives Moonrider is boosting farm profitability and productivity through its innovative tractor solutions.
