Mumbai-based AutoNxt Automation raises $3M in a pre-Series A round led by Saama, others

AutoNxt Automation, a Mumbai-based startup specializing in electric powertrain and off-road autonomous technology, has raised around $3 million in a pre-Series A funding round led by Saama.

The round saw participation from investors, including Amit Singhal, former head of Google’s search division, Suveer Sinha, India Head for KKR Capstone, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures, and others.

The startup plans to use the raised capital to catalyze the launch of India’s first electric tractor with self-driving options, marking a significant leap forward in the commercial sector, encompassing biomass plants, airports, construction sites, agriculture, and solar farms.

What does AutoNxt Automation do?

Founded by Kaustubh Dhonde and Pankaj Goyal, AutoNxt Automation has been at the forefront of developing high-torque, high-voltage electric powertrains complemented by self-driving technology and a swappable modular battery system. 

The startup's product promises an ultra-fast 2-hour charging capability, significantly reducing operating costs to one-fifth of traditional diesel tractors. The startup’s technology ensures that owners can achieve a break-even point in under two years, presenting a sustainable and efficient alternative to conventional agricultural machinery.

Leadership comments

Kaustubh Dhonde, Founder and CEO of Autonxt Automation, said, “The latest funding from Saama and all our investors enables us to fast-track engineering efforts and promptly establish our brand as a dependable, global, cutting-edge mobility platform, with ‘India for India’ as our guiding mantra.” 

Pankaj Goyal, Co-founder and COO, AutoNxt stated, “The electric tractor is the first use case for our core technology, and after these successful deployments, we will diversify into other off-highway segments, allowing AutoNxt to expand its product portfolio and open up new lines of business.”

Swadeep Pillarisetti, Senior Advisor and Board Member at AutoNxt, said, “With India’s growing environmental concerns, a strong recent government push for deep-tech investments, rapidly growing manufacturing capabilities and engineering talent pool, we are poised to become a global EV leader over the next decade.”