AutoNxt Automation To Introduce India’s First Self-Driving Electric Tractor, Secures Pre-Series A Funding

AutoNxt Automation, an agri-tech start-up focusing on high-torque electric powertrains and off-road autonomous technologies, has successfully concluded its Pre-Series A funding round led by Saama, a prominent investment firm. The company is gearing up to introduce India’s first electric tractor with self-driving capabilities, catering to various commercial sectors including biomass plants, airports, construction, agriculture, and solar farms.

This move aligns with India's position as the world's largest tractor market by volume, with nearly half of the 2 million tractors sold globally in 2023 originating from India. Notably, 95% of these tractors were consumed domestically, with one-third used in commercial applications - a segment AutoNxt aims to target aggressively.

Hemant Asher, Partner at Saama, expressed excitement about backing AutoNxt, highlighting their conviction in Industry 5.0 as a catalyst for India’s economic growth. He emphasized the company’s technology platform tailored for the Indian market and its strategic focus on the commercial segment. AutoNxt’s initiatives resonate well with the Indian Government’s "Atmanirbhar Bharat" campaign and the Net Zero by 2070 target set by the Honourable Prime Minister.

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AutoNxt has introduced advancements in high-torque, high-voltage electric powertrains, coupled with self-driving technology and a swappable modular battery system. Additionally, their tractors boast ultra-fast 2-hour charging capabilities and a versatile mobile app with IoT technology for optimized performance and easy fleet management. With operating costs one-fifth that of diesel tractors, AutoNxt's technology enables owners to break even in under 2 years and significantly reduces maintenance and fuel expenses over a 10-year ownership period.

Kaustubh Dhonde, Founder and CEO of AutoNxt, expressed gratitude for the latest funding round, highlighting its role in accelerating engineering efforts and establishing the brand as a global mobility platform. He emphasized the company’s commitment to leveraging indigenous technology to serve the Indian market.

Pankaj Goyal, Co-founder and COO of AutoNxt outlined the company’s strategy to diversify into other off-highway segments following the successful deployment of electric tractors. He emphasized the importance of building a strategic, multidisciplinary team to drive AutoNxt towards global prominence in electric and autonomous technology.

Swadeep Pillarisetti, senior advisor and board member at AutoNxt, underscored India's growing environmental concerns and the recent government push for deep-tech investments. He expressed confidence in AutoNxt's potential to emerge as a global leader in electric vehicles over the next decade, leveraging India's manufacturing capabilities and engineering talent.

Overall, AutoNxt Automation's successful funding round marks a significant milestone in its journey towards revolutionizing the electric tractor market and establishing itself as a global leader in sustainable mobility solutions. With a strategic focus on innovation, technology, and market expansion, AutoNxt is poised to make a profound impact on India’s agricultural and commercial sectors while contributing to the nation’s ambitious environmental goals.

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