India’s pi Ventures Leads EV Tractor Firm’s $6 Mn Series A
- ByStartupStory | December 3, 2025
Moonrider Accelerates Commercial Rollout Of Cost-Parity Electric Tractors
Bengaluru-based electric tractor startup Moonrider has raised $6 million in a Series A funding round led by deep-tech investor pi Ventures, with participation from Singularity AMC and existing investors Advantedge Founders and Micelio Fund. The capital will transition the company from pilot deployments to full-scale market availability, targeting deliveries as early as February 2026 amid India’s push for agricultural electrification.
Founded in 2023 by former Volvo executives Anoop Srikantaswamy (CEO) and Ravi Kulkarni (COO), Moonrider develops heavy-duty electric tractors in 27 HP, 50 HP, and 75 HP variants featuring in-house batteries, drivetrains, and electronics. The machines achieve price parity with diesel tractors while slashing land preparation and farming costs by up to 80%, offering seven hours of runtime, 30-minute DC fast charging, app connectivity, and OTA updates.
Moonrider claims to be India’s only electric tractor maker with a fully homologated, road-ready portfolio, positioning it for rapid scale-up. The company has signed MoUs for 6,000 tractor supplies over three years and runs customer trials with partners like EM3 AgriServices in Rajasthan and agri-NBFC Samunnati to drive adoption among farmer producer organizations and fleet operators.
Fuel Cost Revolution For Smallholder Farmers
India’s tractor market—nearly one million diesel units sold annually—faces escalating fuel expenses averaging ₹2.5 lakh per year per tractor. Moonrider’s immersion-cooled battery system, in-house BMS, and EV-first engineering deliver 70% lower operating costs, enabling profitability from day one. Founders emphasize farmer economics: “Every decision comes back to one question: Does this save farmers’ money? Electric tractors do.”
pi Ventures MD Sohil Bhagat highlighted Moonrider’s EV-native platform: “Instead of electrifying ICE tractors, they’ve engineered from scratch for ICE-level cost with farmer-needed endurance.” Singularity AMC Partner Suyash Kela added: “Moonrider exemplifies challenger OEMs we back—deep industry knowledge creating functional products improving earnings.”
Global Market Tailwinds And Roadmap
The global electric tractor market grows at 20%+ CAGR, driven by fuel costs and sustainability mandates. India’s $10 billion segment offers massive opportunity, with government subsidies and FAME-III incentives accelerating transition.
Proceeds fund powertrain/battery refinement for diverse soils/climates, durability testing, manufacturing readiness, and 10,000+ unit capacity ramp. Moonrider eyes exports to ASEAN and Africa, leveraging homologation.
Team expertise spans global EV firms, battery tech, agritech, and manufacturing, with pilots validating economics across rice, sugarcane, and horticulture.
This raise validates Moonrider’s thesis: electrification transforms farm unit economics, creating intelligence layers for data-driven agriculture. As diesel dependency fades, Moonrider leads sustainable mechanization for millions of smallholders.
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