Machine manufacturing startup Autocracy Machinery has raised Rs 5 crore in a pre-Series A funding round led by Venture Catalysts, with additional participation from Nikhil Jaisinghani, Bharat Jaisinghani, and SFour Capital.
The Hyderabad-based company had previously secured $1.2 million in 2023 from Venture Catalysts, Z Nation Lab, Hem Angels, and other investors.
According to a press release from Autocracy Machinery, the new funds will be allocated towards enhancing its research and development capabilities and expanding its manufacturing and marketing footprint.
Founded in 2020 by Santhoshi Buddhiraju and Laxman Vallakati, Autocracy Machinery manufactures machines for construction, agriculture, and infrastructure purposes. The company offers a comprehensive range of products, including trenchers, landscaping machinery, agricultural attachments, and water body conservation machines like lake cleaners.
Autocracy exports its products to the Middle East and Africa. The company also claims that its machinery offers superior performance and is priced to ensure accessibility for both business and individual clientele.
Recently, 9Unicorns, a part of the multistage investing firm Venture Catalysts Group, rebranded itself to 100Unicorns. It also announced the launch of its second accelerator fund, 100Unicorns Fund II, with a target size of $200 million, including a green-shoe option of $100 million.
