Team StartupCity

• Secures $6 million Series A funding led by pi Ventures
• Funding to support commercial rollout from pilot phase
• Electric tractors aim to cut farming costs and improve efficiency

Bengaluru-based electric tractor startup Moonrider has raised $6 million in a Series A round, led by pi Ventures with participation from Singularity AMC and existing investors Advantedge Founders and Micelio Fund. This fresh capital will help the company transition from pilot projects to a commercial rollout of its electric tractors.

Founded in 2023 by Anoop Srikantaswamy, Moonrider develops heavy-duty electric tractors through vertical integration of drivetrain, battery systems, and electronics. The company claims its tractors can cut farming costs by up to 80% while being priced on par with traditional diesel tractors.

Earlier this year, in January, Moonrider had raised $2.2 million in a seed round, co-led by AdvantEdge Founders, Micelio Technology Fund, and a group of angel investors. The Series A comes at a time when electric tractor adoption in India is expected to rise, driven by high diesel prices and operating costs. Currently, India sells roughly one million diesel tractors annually, highlighting the potential market for cleaner, cost-efficient alternatives.

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Moonrider’s growth aligns with broader trends in the agri-tech sector. Recently, tractor-focused marketplace Tractor Junction raised $22 million in funding led by Astanor, signaling strong investor interest in modern farming solutions.

With this funding, Moonrider aims to scale production, expand its market presence, and support farmers in reducing costs while improving operational efficiency with sustainable technology.