12 April 2024 – Saama Capital led a pre-Series A fundraising round that raised 3 million (about INR 24 Cr) for Mumbai-based electric tractor startup AutoNxt Automation. Amit Singhal, the former head of Google’s search business, Suveer Sinha, the head of KKR Capstone’s India operations, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and other investors also participated in the round.
Kaustubh Dhonde, the founder and CEO of AutoNxt, said that the company would use the additional funds to accelerate its technical efforts and position it as a trustworthy international mobility platform. “AutoNxt is set to launch India’s first electric tractor with self-driving options, designed for commercial use in various sectors such as biomass plants, airports, construction, agriculture, and solar farms later this year,” the business said in a statement.
“We’re excited to support AutoNxt because we firmly believe that Industry 5.0 will be a major factor in India’s economic development. Hemant Asher, a partner at Saama, said, “Our conviction is further strengthened by the company’s technology platform, which was developed in India specifically for the Indian market, and by the founding team’s keen focus on the commercial segment in the current phase of their business.”
Conclusion
The goal of AutoNxt Automation, an automation technology firm founded in 2016 by Kaustubh Dhonde, is to commercialize the first electric, self-driving tractor in India.
