AutoNxt Automation, a pioneering technology start-up specializing in high-torque electric powertrains and off-road autonomous technologies, has announced the successful closure of its Pre-Series A funding round. Saama led the investment, with contributions from notable investors including Amit Singhal, former head of Google’s search division, and Suveer Sinha, India Head for KKR Capstone, among others.
In line with its strategic roadmap, AutoNxt is poised to introduce India’s premier electric tractor equipped with self-driving capabilities, catering to diverse commercial sectors such as biomass plants, airports, construction, agriculture, and solar farms. This initiative aligns with India’s burgeoning tractor market, which accounted for nearly half of global sales in 2023, with a significant portion deployed for commercial applications.
With a sharp focus on India’s commercial segment and leveraging indigenous technological prowess, AutoNxt aims to position itself competitively on the global stage. The company’s advancements in high-torque electric powertrains, self-driving technology, and rapid charging capabilities underscore its commitment to driving sustainable mobility solutions.
Hemant Asher, Partner at Saama, expressed enthusiasm for the partnership, emphasizing AutoNxt’s potential as a leader in India’s Industry 5.0 landscape. He highlighted the company’s unique value proposition tailored to the Indian market and its alignment with governmental initiatives such as “Atmanirbhar Bharat” and the Net Zero by 2070 target.
AutoNxt’s Founder and CEO, Kaustubh Dhonde, underscored the significance of the funding in accelerating engineering efforts and establishing the brand as a global mobility platform. Pankaj Goyal, Co-founder and COO, emphasized the company’s strategic vision to diversify its product portfolio beyond electric tractors, catering to various off-highway segments.
Swadeep Pillarisetti, senior advisor and board member at AutoNxt, highlighted India’s conducive environment for deep-tech investments and engineering talent, positioning the company for global leadership in electric vehicles over the coming decade.
Alcor Fund served as advisor on the transaction, facilitating the strategic partnership between AutoNxt and its investors.
