Moonrider Raises ₹18.26 Cr for E-Tractors

Moonrider secures ₹18.26 Cr in seed funding to advance vehicle engineering, and cost-effective farming solutions.

Bangalore – Moonrider., an electric tractor technology company, has raised $2.2 million (around ₹18.26 crores) in seed funding, co-led by AdvantEdge Founders and Micelio Technology Fund, with support from angel investors.

Moonrider specializes in heavy-duty electric tractors aimed at reducing operational costs for farmers and fleet operators. By leveraging its expertise in supply chain management and engineering, the company has achieved price parity with diesel alternatives. Additionally, Moonrider has developed proprietary battery technology and filed for a patent.

The raised funds will be used to strengthen Moonrider vehicle engineering, software development, and battery technology. The company's electric tractors recently gained significant attention at an agricultural event in Hyderabad, drawing interest from farmer producer organizations (FPOs), individual farm owners, and other stakeholders in India's agricultural sector.

Mr. Anoop Srikantaswamy, Co-founder and CEO of Moonrider, said, “Moonrider goal is to improve farm profitability by providing cost-effective and efficient mechanization solutions. The electric tractors are designed to address diverse farming needs, improve farmer income, and promote sustainable farming practices. Moonrider has also formed partnerships with leading agricultural players and fleet operators in India and abroad to enhance productivity and develop scalable solutions.”

Mr. Kunal Khattar, AdvantEdge Founders representative, said, “Electric tractors align with their fund’s focus on transitioning from internal combustion engines to electric vehicles. Electric tractors are more cost-effective to own and maintain, making them a promising innovation for farmers.”

Mr. Shreyas Shibulal, Founder of Micelio Fund, expressed optimism about the partnership with Moonrider. He emphasized the growing potential for electric tractors at the intersection of technological advancements and evolving business models, aligning with the fund's commitment to supporting sustainable mobility solutions.