AutoNxt Automation, a startup in the e-mobility sector based in Maharashtra, has secured funding in a pre-series A round to support the introduction of its inaugural electric tractor equipped with self-driving options. Saama, an early-stage venture capital firm based in India, spearheaded the funding round. The former head of Google’s search division, along with India Head for KKR Capstone, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and other prominent investors, also joined in the funding round. The exact amount raised was not disclosed by the companies.
AutoNxt’s electric tractors, tailored for commercial purposes, are versatile and suitable for various sectors including agriculture, airports, biomass plants, construction, and solar farms. The company is recognised for its innovations in high-torque, high-voltage electric powertrains, self-driving technology featuring a swappable modular battery system, and rapid 2-hour charging capabilities. Additionally, it provides a mobile application integrated with Internet of things technology to enhance tractor performance and facilitate convenient fleet monitoring and maintenance. The company asserts that reduced maintenance, fuel expenditures, and operating costs enable owners to recover their investment in electric tractors in under two years.
