Moonrider, a Bangalore-based electric tractor technology company, has raised $6 million in its Series A funding round led by pi Ventures, a deep-tech fund.
The round also saw participation from Singularity AMC, along with existing investors Advantedge Founders and Micelio Fund.
The fresh funds raised will be used to advance its vehicle engineering and battery technology, as well as accelerate the development of its tractor lineup. The capital will also enable Moonrider to refine its drivetrain systems, optimise battery performance, and complete durability testing across all soil and climate conditions in India and global markets.
The new funding will also support the transition from pilot deployments to commercial rollout.
In January 2025, Moonrider raised $2.2 million in its seed funding round, co-led by AdvantEdge Founders and Micelio Technology Fund, along with a group of angel investors.
Founded in 2023 by Anoop Srikantaswamy and Ravi Kulkarni, Moonrider offers a comprehensive range of heavy-duty electric tractors that significantly reduce operational costs for farmers and fleet operators.
According to the company, its strong supply chain and engineering expertise have enabled its tractors to achieve price parity with diesel alternatives. Additionally, Moonrider has developed its battery technology, for which it has filed a patent.
Moonrider offers three charging options – normal home charging, AC fast charging and rapid charging that takes 30-60 minutes. Additionally, farmers in many states can leverage free electricity for agricultural use.
According to the company, its electric tractors can reduce farming costs by up to 80% and are priced at parity with diesel tractors. It develops heavy-duty electric tractors aimed at lowering farming costs and improving operational efficiency.
Anoop Srikantaswamy, Founder & CEO of Moonrider, said, “Every decision at Moonrider comes back to one question: does this save farmers’ money? Electric tractors do. They cut the cost of farming from day one and deliver more power with far lower operating expenses than diesel. This investment helps us bring those economic benefits to millions of farmers faster.”
Sohil Bhagat, Managing Director at pi Ventures, said, “Cost-effective electric tractors can significantly reshape farm economics in India and across developing markets. Instead of just electrifying an ICE tractor, the team at Moonrider has engineered an EV-first platform from scratch that delivers ICE-level cost while delivering the endurance farmers need on a single charge. We’re excited to support them as they take this category-defining product to market.”
Suyash Kela, Partner at Singularity AMC, said, “Electrification in commercial vehicles is a core investment theme at Singularity, and tractors are one of the most compelling opportunities of that thesis. Moonrider exemplifies the kind of challenger OEM we like to back: Founders with deep industry knowledge, sharp focus on creating functional products to improve farmer earnings, capital-efficient scale-up. By delivering electric tractors that are competitive with diesel on upfront price while massively lower on operating costs, they can transform high‑utilization agri applications. Excited to partner with this team as they scale across India and beyond.”
Shreyas Shibulal, Managing Partner at Micelio Fund, said, “Moonrider’s vertical integration positions them to lead farm mechanization’s transition to clean energy and electric tractors represent a powerful convergence of technological innovation and sustainable agriculture. We’re proud to continue backing Moonrider as they scale from pilot to full commercial deployment. This investment aligns with Micelio’s commitment to nurturing the clean mobility ecosystem and supporting solutions with clear climate and economic impact.”
Kunal Khattar, Managing Partner at Advantedge Founders, said, “We led the initial seed round in Moonrider because they were building the foundational platform for sustainable, autonomous, data-driven agriculture. Their solution is a perfect convergence of deep engineering, a data-first approach, and a massive unmet need across the global south. By eliminating diesel dependency, Moonrider fundamentally changes farm unit economics and creates a powerful new intelligence layer for farmers. This round powerfully validates our conviction: Moonrider is revolutionizing how we take farming to the next generation.”
