Naxatra Labs, an electric vehicle (EV) motor technology startup, has raised an undisclosed amount in its seed funding round led by GVFL, Mohit Tandon (Founder, Delhivery), and Himanshu Aggarwal (Founder, Aspiring Minds).
The round also saw participation from Zerodha-backed Rainmatter, Vijay Shekhar Sharma (Founder, Paytm), Aloke Bajpai and Rajnish Kumar (Co-founders, Ixigo), Narayan (Ather Energy), and Sunil Kalra, among others.
The funds raised will be used to expand its R&D and production teams to enhance its capabilities.
“We are thrilled to welcome all value-adding investors to Naxatra Labs. This infusion of capital and insight from experienced partners will catalyse our vision of transforming the Indian deeptech scenario with homegrown technology and mass production capacity,” said Abhilash, CEO and Co-founder of Naxatra Labs.
“We are excited to invest in Naxatra Labs, their focus is on lightweight and advanced motor technologies for local driving conditions. Their commitment to manufacture in India positions them as a key differentiator in the ecosystem. At GVFL, we are dedicated to supporting early-stage companies with scalable, sustainable technologies, and look forward to helping Naxatra Labs transform the future of electric mobility,” Said Mihir Joshi, MD at GVFL.
“India is making extraordinary strides in EV adoption. With favourable govt initiatives – Naxatra is primed to take the lead in building a motor technology company for Indian conditions. The team has demonstrated superior execution in technology development and these funds will help them further innovate and establish production capacity to serve the growing demand,” said Mohit Tandon, Founder Delhivery.
Founded in 2020 by Abhilash Maurya, Arnav Biswas, and Piyush Verma, Naxatra Labs focuses on the development of axial and radial flux motor technology for electric vehicles, agricultural machines, and power tools.
Naxatra Labs is in the process of setting up a production facility in Ahmedabad.
