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AutoNxt Automation is set to unveil India’s inaugural self-driving electric tractor, having successfully secured pre-Series A funding.

AutoNxt has implemented breakthroughs in high-torque, high-voltage electric powertrains, combined with self-driving technology, and a versatile modular battery system in its electric tractor.

AutoNxt Automation, a startup in agricultural technology, specializing in high-torque electric powertrains and off-road autonomous technologies, recently concluded its Pre-Series A funding round. This funding was led by Saama, a prominent investment firm. The company is gearing up to introduce India’s first electric tractor equipped with self-driving capabilities. It aims to cater to various commercial sectors including biomass plants, airports, construction, agriculture, and solar farms.

This action resonates with India’s status as the largest tractor market globally in terms of volume, with almost half of the 2 million tractors sold worldwide in 2023 being from India. Remarkably, 95% of these tractors were utilized within the country, with a third employed in commercial operations – a sector AutoNxt intends to pursue vigorously.

Hemant Asher, Partner at Saama, conveyed enthusiasm in supporting AutoNxt, underscoring their belief in Industry 5.0 as a driver for India’s economic advancement. He highlighted the company’s technology platform specifically designed for the Indian market and its deliberate emphasis on the commercial sector. AutoNxt’s endeavors align closely with the Indian Government’s “Atmanirbhar Bharat” initiative and the goal of achieving Net Zero emissions by 2070, as set by the Honourable Prime Minister.

AutoNxt has brought forth innovations in high-torque, high-voltage electric powertrains, combined with self-driving capabilities and a swappable modular battery system. Furthermore, their tractors feature rapid 2-hour charging capabilities and a flexible mobile application integrated with IoT technology for enhanced performance and simplified fleet management. With operational costs amounting to just one-fifth of diesel tractors, AutoNxt’s technology allows owners to recoup their investment in less than 2 years and substantially diminishes maintenance and fuel outlays over a decade of ownership.

Kaustubh Dhonde, Founder and CEO of AutoNxt, expressed appreciation for the recent funding round, emphasizing its significance in expediting engineering endeavors and solidifying the brand as a worldwide mobility platform. He underscored the company’s dedication to harnessing indigenous technology to cater to the Indian market.

Pankaj Goyal, Co-founder and COO of AutoNxt, outlined the company’s plan to expand into additional off-highway sectors after the effective implementation of electric tractors. He stressed the significance of assembling a strategic, interdisciplinary team to propel AutoNxt towards international recognition in electric and autonomous technology.

Swadeep Pillarisetti, a senior advisor and board member at AutoNxt, highlighted India’s escalating environmental apprehensions and the government’s recent emphasis on deep-tech investments. He conveyed assurance in AutoNxt’s capacity to ascend as a worldwide frontrunner in electric vehicles within the next decade, capitalizing on India’s manufacturing prowess and engineering expertise.

In essence, AutoNxt Automation’s triumphant funding round signifies a pivotal achievement in its quest to transform the electric tractor industry and cement its position as a worldwide frontrunner in sustainable transportation solutions. With a deliberate emphasis on innovation, technology, and market enlargement, AutoNxt is positioned to create a significant influence on India’s agricultural and commercial domains, while also contributing to the nation’s ambitious environmental objectives.

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