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Moonrider raises ₹18.26 crore to revolutionize Indian agriculture with cost-effective, sustainable, and innovative electric tractor technology.
Bangalore-based electric tractor company, Moonrider, has raised ₹18.26 crore ($2.2 million) in seed funding to revolutionize farming in India with its sustainable and cost-effective solutions. The funding round was co-led by AdvantEdge Founders and Micelio Technology Fund, with support from prominent angel investors.
Founded in August 2023 by industry veterans Anoop Srikantaswamy and Ravi Kulkarni, Moonrider aims to make farming more profitable and eco-friendly. Drawing on their extensive experience at companies like Volvo Group, Ola Electric, and Olectra BYD, the founders are committed to advancing electric vehicle (EV) technology in the agricultural sector.
Moonrider’s electric tractors are designed to meet the heavy-duty needs of farmers and fleet operators while reducing operational costs. The company has achieved price parity with traditional diesel tractors by optimizing engineering processes and supply chain management. Additionally, Moonrider has developed an in-house battery technology, for which a patent has been filed.
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The ₹18.26 crore investment will be used to:
The company recently showcased its electric tractors at an agricultural event in Hyderabad, where they received significant interest from Farmer Producer Organizations (FPOs), individual farm owners, and agricultural stakeholders across India.
Co-founder and CEO Anoop Srikantaswamy emphasized Moonrider’s mission to support sustainable farming while boosting farmer incomes. “Our electric tractors are built to address diverse farming needs while ensuring cost savings and promoting eco-friendly practices,” he said.
The company is also partnering with agricultural leaders and fleet operators in India and abroad to develop scalable solutions and enhance productivity.
Kunal Khattar from AdvantEdge Founders praised the innovation, highlighting the lower cost of ownership and maintenance of electric tractors compared to diesel models. “Moonrider’s technology aligns perfectly with the shift toward sustainable mobility solutions,” he added.
Similarly, Shreyas Shibulal, founder of Micelio Technology Fund, expressed optimism about the collaboration. He noted the growing demand for electric tractors driven by advancements in EV technology and evolving business models.
With its focus on affordability, sustainability, and innovation, Moonrider is assured to play a key role in transforming Indian agriculture. By offering efficient and eco-friendly electric tractors, the company is meeting farmers needs and contributing to India’s broader sustainable development goals.
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Moonrider’s innovative electric tractors promise to revolutionize Indian agriculture by reducing costs, enhancing sustainability, and improving farmer profitability. With strong investor backing and cutting-edge technology, the company is well-positioned to drive a significant shift toward eco-friendly farming practices and scalable mechanization solutions across the agricultural sector.