Moonrider, a Bengaluru-based electric tractor technology startup, has raised USD 6 million in its Series A funding round, marking a major development in India’s rapidly growing electric agriculture mobility sector. The round was led by deep-tech investment firm pi Ventures, with additional participation from Singularity AMC and existing investors Advantedge Founders and Micelio Fund.
The funding comes at a time when the global electric tractor market is projected to grow at a CAGR of more than 20%. India—the world’s largest tractor market, selling around one million diesel tractors annually—stands on the brink of a major electric transformation. With fuel and operating expenses steadily diminishing farm profitability, farmers and fleet operators are increasingly exploring electric alternatives that offer long-term savings.
Moonrider claims its electric tractors can reduce the cost of land preparation and farming activities by up to 80%. The company has reached true price parity with diesel tractors—something rare in the EV tractor space—through deep vertical integration of its drivetrain, battery systems and electronics. By lowering both upfront and operational costs, the company aims to boost farmer income while pushing India toward cleaner and more sustainable agricultural practices.
With a fully homologated and road-ready product lineup, Moonrider positions itself as the only electric tractor manufacturer in India currently prepared for commercial deployment. The fresh capital will help the company transition from pilot operations to full-scale market rollout.
Anoop Srikantaswamy, Founder & CEO of Moonrider, said the company’s mission is grounded in farmer profitability. “Electric tractors cut farming costs from day one. They offer more power at significantly lower operating costs compared to diesel. This investment accelerates our ability to deliver those benefits to millions of farmers,” he said.
Backing Moonrider’s EV-first approach, Sohil Bhagat of pi Ventures emphasized that electric tractors engineered from scratch—rather than converted from ICE platforms—could reshape agricultural economics across developing markets.
Investors from Singularity AMC, Micelio Fund and Advantedge Founders echoed similar views, highlighting Moonrider’s potential to transform high-utilization agricultural applications through cleaner, cost-effective and technology-driven mobility solutions.
