Moonrider, a Bengaluru-based electric tractor startup, has successfully raised $2.2 million (approximately Rs 19 crore) in a seed funding round. The funding was co-led by AdvantEdge Founders and Micelio Technology Fund, with support from a group of angel investors. Founded in August 2023, Moonrider aims to make electric tractors more accessible and profitable for farmers and fleet operators.
Vision for Sustainable Farming
Moonrider was established by industry veterans Anoop Srikantaswamy and Ravi Kulkarni, who bring extensive experience from companies like Volvo Group, Ola Electric, and Olectra BYD. Their goal is to create electric tractors that are as reliable and affordable as diesel-powered alternatives, helping to modernize India’s agricultural sector with sustainable solutions.
The fresh funding will be used to improve vehicle engineering, software, and battery technology. By focusing on cost-effectiveness and sustainability, Moonrider aims to support small-scale farmers and large fleet operators, making eco-friendly farming solutions widely available.
Technology Matches Diesel Tractors
Moonrider’s heavy-duty electric tractors are designed to reduce operational costs while maintaining high performance. The startup has developed an in-house battery technology, which has already been patented. This innovation ensures that Moonrider’s tractors achieve price parity with diesel models, making them a competitive option in India’s agricultural market.
The electric tractors are tailored to meet diverse farming needs, delivering superior performance and promoting climate-friendly mechanization. According to Co-founder and CEO Anoop Srikantaswamy, these tractors aim to boost farmer incomes while reducing environmental impact.
Strong Partnerships for Growth
In recent months, Moonrider has built strong partnerships with leading agricultural companies and fleet operators in India and abroad. These collaborations are expected to enhance the development of world-class solutions for farmers, increasing productivity and efficiency.
Kunal Khattar of AdvantEdge Founders highlighted the importance of electric tractors in reducing reliance on fossil fuels. He noted that electric tractors are 50% cheaper to own and maintain compared to traditional diesel models, making them a crucial innovation in India’s transition to sustainable farming practices.
Driving the Future of Farming
Moonrider’s mission aligns with the growing demand for eco-friendly and cost-effective farming equipment. With a focus on innovation and partnerships, the startup is well-positioned to transform India’s agricultural landscape, offering farmers and fleet operators a reliable and sustainable alternative to traditional tractors.
