Electric mobility tech platform AutoNxt Automation has raised its pre-Series A round led by Saama Capital. Amit Singhal, Suveer Sinha, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and other marquee investors participated in the round.
Earlier to this, AutoNxt had raised Rs 6.4 crore in its seed round from Keiretsu Forum and others.
AutoNxt has built its entire supply chain and assembly setup from ground up. Simultaneously, it has built the production-ready high torque electric powertrain.
The startup claims it is the only one in the market with high voltage systems. According to the company, it has also been actively working on automation stack powered with AI and 5G technology which they are testing on various used cases of tractors.
As part of the first phase in its business roadmap, AutoNxt is set to launch its first electric tractor with self-driving options, designed for commercial use in various sectors such as biomass plants, airports, construction, agriculture, and solar farms later this year.
The Mumbai-based startup added that its cost-saving technology utilised in electric tractors allows for over four-fold reduction in running costs.
