In the current fiscal year, AutoNxt Automation plans to introduce electric tractors with power ratings of 20, 35, and 45 HP.
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The business disclosed that it received INR 6.4 crores in funding from HNI angel investors for its seed round of financing. All of it is conducted under the direction of Mr. Swadeep Pillarisetti (Board member at AutoNxt Automation).
Keiretsu Forum, Virya Mobility 5.0, and a few other notable angel investors, including Mr. Ayad Khalil Chammas (an experienced oil and gas professional and international investor in the EV space), Mr. Chand Das (a former CEO of ITC), Mr. Nitin Johar (the IDO’s chief financial officer at the government of Ras Al Khaimah), Mr. Suveer Sinha (KKR Capstone India Head), Mr. Ravichandran Sar.
The company stated that it would effectively utilize this investment over the next three years for tooling, testing, research, and development of India’s first electric tractor. In addition, they intend to introduce three different models of an electric tractor in the market, with 20 HP, 35 HP, and 45 HP, respectively. To launch its pre-series, the company is now seeking capital of around Rs. 27 Crores ($3.5 M).
Since its founding, AutoNxt Automation has provided three distinct tractor models. The group has claimed to have created a ready high-force electric drivetrain throughout. The company has long bolstered its team with knowledgeable business professionals.
The company claims that it has also been making progress on its computerization stack, which is being tested on several used farm vehicle examples and is controlled by AI and 5G technology. By 2024, the company hopes to give its independent driving highlights. This will increase the benefits of electric tractors and lessen the challenges farmers have when operating a farm tractor in absurd conditions. The manufacturer is ready with the creation-ready molds for the hood and the powertrain mix pieces. For their tractors, AutoNxt Automation has created a clever VCU that provides a thorough, in-depth analysis of the tractor performance, safety, and likelihood of renting out tractors. Additionally, they created a portable program.
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