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Electric Tractor Startup AutoNxt Bags $3 Mn From Saama Capital
Inc42
·
1y ago
Medial
Indian automation technology startup AutoNxt Automation has raised $3m in a pre-Series A funding round led by Saama Capital. The Mumbai-based firm is working to bring India's first electric, self-driving tractor to the market, with plans to launch later this year. AutoNxt claims that its electric tractors have operating costs one-fifth that of diesel tractors, enabling owners to break even within two years. The funding will be used to accelerate the startup's engineering efforts and establish it as a global mobility platform.
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Mumbai-based AutoNxt Automation raises $3M in a pre-Series A round led by Saama, others
IndianStartupNews
·
1y ago
Medial
Mumbai-based startup AutoNxt Automation has raised $3m in a funding round led by Saama. The firm plans to use the capital to launch India's first electric tractor with autonomous capabilities. The company's technology, including a high-torque electric powertrain and swappable battery system, aims to reduce operating costs for farmers and presents a sustainable alternative to conventional agricultural machinery. AutoNxt Automation's founders said the funding will allow the company to fast-track engineering efforts and establish itself as a global mobility platform.
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AutoNxt Automation raises pre-Series A round led by Saama Capital
Entrackr
·
1y ago
Medial
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.
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With Hi-Tech Tractors In Shed, Can This Startup Bring The Next Big EV Revolution In India
Inc42
·
10m ago
Medial
AutoNxt, an Indian electric vehicle (EV) startup, is targeting the heavy-duty electric vehicle market with its electric tractors. With a goal of reducing pollution from diesel tractors and helping farmers lower their costs, AutoNxt aims to compete with established players in the industry. The startup currently sells the X45H2 electric tractor, capable of pulling 10-12 tonnes, and plans to expand its capacity to 500 tractors per month in the next few years. This comes as India's EV landscape expands, with electric buses and trucks gaining popularity.
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OmniCard Bags $3 Mn Funding
Inc42
·
1y ago
Medial
OmniCard, a spend management startup, has raised $3 million in a pre-Series A funding round led by Ankurit Capital and Taisys. The company plans to expand its customer base from 2 million users to 10,000 enterprises by FY 2027. This investment also represents Taisys' first investment in an Indian startup.
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D2C luggage brand Mokobara bags $12 million in new Peak XV-led round
Entrackr
·
1y ago
Medial
Direct-to-consumer (D2C) luggage brand Mokobara has raised $12 million or Rs 100 crore in a Series B funding round led by Peak XV Partners (formerly Sequoia Capital India). This is the first funding round of the Bengaluru-based company in 2024. Existing investors Sauce VC and Saama Capital have also participated in the round. The board at Mokobara has passed special resolutions to issue 4,183 Series B compulsory convertible preference shares (CCPS) at an issue price of Rs 2,39,110.51 per share to raise Rs 100 crore, the company’s regulatory filings with the Registrar of Companies show. Peak XV Partners led the round with Rs 78.26 crore while Sauce VC and Saama Capital poured in Rs 15.47 crore and Rs 6.29 crore, respectively. As per startup intelligence platform TheKredible, Mokobara has been valued at around Rs 700 crore or $84.5 million (post-money). The company has raised around $23.6 million to date. Before this fundraise, it raised $3.6 million in funding from Saama Capital, Sauce VC, and Alteria Capital in October 2023. Founded in 2020 by former Urban Ladder executives Sangeet Agrawal and Navin Parwal, Mokobara offers a wide range of wallets, travel bags, kits, sling bags, and other travel accessories. Post-allotment of the round, Peak XV Partners own 11.18% shares while Saama Capital and Sauce VC have 14.32% and 19.41% stakes in the company. Visit here for more details. Mokobara’s revenue from operations jumped 4.4X to Rs 53.27 crore during FY23 from Rs 12.18 crore in FY22. As per TheKredible, its losses surged 78.5% to Rs 8.21 crore in FY23 as compared to Rs 4.6 crore in FY22.
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Shark Tank India-backed Koparo raises $1.7 Mn
Entrackr
·
4m ago
Medial
D2C home cleaning brand Koparo is raising Rs 14.5 crore (approximately $1.7 million) in an extended pre-Series A round led by existing investor Saama Capital with the participation of Vikramaditya Mohan Thapar Family Trust, DSG Consumer Partners, M Venture Partners, and others. Previously in February 2024, Koparo raised Rs 6 crore from 4P Capital Partners and Shark Tank India. The board at Koparo passed a special resolution to issue 2,314 pre-Series A2 compulsory convertible preference shares at an issue price of Rs 62,666 each to raise Rs 14.5 crore ($1.7 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. The proceeds will be used to meet the working capital requirements, general corporate purposes, or funding current/future expansion plans of the company, according to filings. According to Entrackr’s estimates, the company's valuation surged by nearly 90%, reaching Rs 124 crore (approximately $14.6 million) compared to its previous funding round. Founded by Simran Khara, Koparo offers natural alternatives to regular cleaning products. With a portfolio of more than 15 products and over 30 SKUs across core and specialty cleaning, its range includes floor cleaners, laundry detergent, fabric conditioners, dishwash liquid, handwash, accessories, and fresheners. According to startup data intelligence platform TheKredible, the Delhi-based company has raised nearly $3 million prior to this round from investors including Saama Capital, M Venture Partners, 4P Capital Partners, and others. Post-allotment, Saama Capital will be the largest external shareholder with a 15.36% stake in the company. In the fiscal year ending March 2024, Koparo’s operating revenue surged 2.3X to Rs 10.22 crore, up from Rs 4.37 crore in FY23. The company reported losses of Rs 5.86 crore in FY24.
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Gyaan AI bags $7.8 mn, rebrands to MaxIQ
Inshorts
·
5m ago
Medial
Agentic AI startup Gyaan AI has rebranded itself as MaxIQ and also raised about $7.8 mn in a seed funding round led by Dell Technologies Capital, along with participation from Intel Capital. The Pune-based startup will use the fresh capital to scale operations, boost product innovation and expand its leadership team.
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Fabrication Bazar Bags $3 Mn To Solve Steel Fabrication Challenges
Inc42
·
11m ago
Medial
Fabrication Bazar, an asset-light startup addressing challenges in India's steel fabrication industry, has raised $3 million in a Pre-Series A funding round. Led by Physis Capital, the round also saw participation from ICMG and Inflection Point Ventures. The funds will be used to enhance the company's technology platform, expand into the GCC and Southeast Asian markets, and strengthen leadership roles. The successful funding round validates Fabrication Bazar's focus on efficiency, cost-effectiveness, and quality standards.
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Exclusive: Zypp Electric Bags $14 Mn From Energy Giant ENEOS
Inc42
·
1y ago
Medial
Zypp Electric, an Indian startup, has secured an investment from ENEOS, marking their first investment in an Indian company. The funding aligns with Zypp Electric's larger Series C funding round, with the startup aiming to raise funds at a valuation of approximately $280 million.
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Tractor Factory raises $500k in pre-seed round led by All In Capital
Entrackr
·
6m ago
Medial
Tractor Factory raises $500k in pre-seed round led by All In Capital Tractor Factory, an electric tractor technology company, has raised Rs 4 crore (around $500,000) in its pre-seed round led by early-stage investment firm All In Capital. Several marquee investors, including Bharat Founders Fund, Devc, and family offices such as Dhingra Partners Prosperity Trust (associated with the Kirloskar Generators family office), participated in the round. Additionally, angel investors like Samir Sood (Founder of Venture Highway), Abhishek Goyal (Founder of Tracxn), Aayush Phumbra (Founder of Chegg), and Puneet Kumar (from Steadview Capital) also joined the fresh investment. The proceeds will be used to enhance its technology, expand its market reach, and improve customer experience. Founded by Shailesh Tiwari in 2024, Tractor Factory offers an omnichannel marketplace that caters to farmers’ mechanization needs by making buying and selling used tractors more accessible and affordable.
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