Moonrider, a Bengaluru-based electric tractor technology startup, has raised $2.2 million (approximately Rs 19 crore) in a seed funding round co-led by AdvantEdge Founders and Micelio Technology Fund, alongside a group of angel investors.
The funding will be used to drive innovation and strengthen the company’s expertise in vehicle engineering, software development, and battery technology, according to a company press release.
Founders’ Vision Backed by Extensive Industry Experience
Founded in August 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider draws on its founders’ deep experience in vehicle engineering and electric vehicle (EV) research and development, gained at leading companies like the Volvo Group, Ola Electric, and Olectra BYD.
Affordable, Sustainable Farming Solutions
Moonrider specializes in heavy-duty electric tractors designed to reduce operational costs for both farmers and fleet operators. With robust engineering expertise and a strong supply chain, the startup claims its tractors have achieved price parity with diesel alternatives, making them an economically viable solution for agricultural needs.
The company aims to promote sustainable farming practices by offering reliable, cost-effective tractors that lower upfront ownership costs while enhancing farm profitability and productivity.
Innovation in Battery Technology
Moonrider has also developed its proprietary battery technology, for which it has filed a patent. This innovation further underscores the company’s commitment to driving the EV revolution in the agricultural sector.
By blending advanced technology with a mission to improve the lives of farmers, Moonrider is positioning itself as a key player in the sustainable farming and electric vehicle markets.
