Moonrider, an electric tractor technology company, has successfully raised $2.2 million (Rs. 19 crore) in a seed funding round led by AdvantEdge Founders and Micelio Technology Fund, in addition to a number of angel investors.

According to a press release from Moonrider, the money will be used to promote innovation and develop strong capabilities in the areas of vehicle software, battery technology, and vehicle engineering.

Anoop Srikantaswamy and Ravi Kulkarni founded Moonrider in August 2023. The company takes advantage of the founder’s vast experience in vehicle engineering and R&D for electric vehicles from the Volvo Group, Ola Electric, and Olectra BYD.

The Bengaluru-based startup says it can save fleet operators and farmer’s operating expenses by providing a wide selection of heavy-duty electric tractors. The company claims that its robust supply chain and engineering know-how have made its tractors competitively priced when compared to diesel alternatives.

Moonrider's tractors facilitate sustainable farming practices by emphasizing dependability and lowering the initial cost of ownership. The company aims to increase farm productivity and profitability.

Additionally, the business has created proprietary battery technology, for which a patent application has already been made.

"Our electric tractors are made to meet a variety of farming requirements while providing exceptional performance, increasing farmer income, and encouraging climate-friendly farm mechanization. We have established solid alliances with top fleet operators and agri-players in India and abroad in recent months," Co-Founder and CEO of Moonrider Anoop Srikantaswamy said in a statement.

"By leveraging our collective expertise, we aim to develop world-class solutions that elevate productivity," he stated.