Bengaluru-based startup Moonrider, a leader in electric tractor technology, has raised $2.2 million in seed funding. The funding round, announced on January 7, 2025, was led by AdvantEdge Founders and Micelio Technology Fund, along with angel investors. This investment aims to boost Moonrider’s efforts to create cost-effective and eco-friendly solutions for modern farming.
How the Funding Will Be Used
Moonrider plans to use the funds to improve its technology and bring more innovation to electric tractors. Key areas of focus include:
- Vehicle Engineering: Making electric tractors more powerful, durable, and efficient to match diesel models.
- Vehicle Software: Adding smart features like better automation and integration with advanced farming techniques.
- Battery Technology: Improving batteries to increase range and reduce charging time, making electric tractors more practical for farmers.
Moonrider’s Mission
Founded in August 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider aims to make farming more sustainable and affordable. The startup’s tractors help farmers save up to 80% on operational costs, costing only INR 300 per hour compared to INR 1,000-1,500 for diesel tractors.
“Our focus is on getting the product right. The next six months will involve testing, validation, and engineering improvements,” said Anoop Srikantaswamy, co-founder and CEO. Moonrider’s goal is to make tractors farmers can trust in a field that has been slow to embrace new technology.
Support from Investors
Kunal Khattar of AdvantEdge Founders shared his excitement:
“Electric tractors are the next big thing. They are 50% cheaper to own and maintain, and we believe they will make a huge impact on farming.”
Shreyas Shibulal from Micelio Fund added:
“Moonrider aligns perfectly with our mission to back sustainable innovations in clean mobility.”
Market Impact and Future Plans
Moonrider has already partnered with businesses in India and East Africa, preparing to expand globally. Its tractors, set to launch soon, aim to replace diesel models, cutting carbon emissions and reducing farming costs.
Despite a tough funding climate for electric vehicle startups—investments in India nearly halved between 2022 and 2024—Moonrider’s success shows strong confidence in the potential of electric tractors to reshape agriculture.
Moonrider is set to lead the charge in modern, eco-friendly farming, offering a glimpse into a future where technology makes farming more sustainable and affordable for everyone.