Moonrider raises $6 Mn in Series A round led by pi Ventures

Moonrider, a Bengaluru-based electric tractor company, has raised $6 million in its Series A round led by pi Ventures, with participation from Singularity AMC and existing investors Advantedge Founders and Micelio Fund.

Earlier in January this year, Moonrider had raised a seed round of $2.2 million (Rs 19 crore), co-led by AdvantEdge Founders and Micelio Technology Fund, along with a group of angel investors.

The new funding will support the transition from pilot deployments to commercial rollout.

Founded in 2023 by Anoop Srikantaswamy, Moonrider builds electric tractors designed to lower farming and land-preparation costs. It develops its platform through vertical integration across drivetrain, battery systems, and electronics. 

According to the company, its electric tractors can reduce farming costs by up to 80% and are priced at parity with diesel tractors. It develops heavy-duty electric tractors aimed at lowering farming costs and improving operational efficiency. 

As per market research, India currently sells about one million diesel tractors annually, and electric tractor adoption is expected to rise as fuel and operating costs impact farm profitability. 

Recently, tractor-focused marketplace Tractor Junction raised $22 million in a funding round led by Astanor, with participation from Info Edge and Omnivore.