AutoNxt Automation Secures Pre-Series A Funding

12 Apr 2024 CW Team

The funding initiative, spearheaded by Saama, an early-stage venture capital firm based in India, saw the participation of notable investors including Amit Singhal, former Head of Google?s search division, Suveer Sinha from KKR Capstone, Bluehill Capital, Keiretsu Forum, and Soonicorn Ventures, among others. The exact amount raised in this funding round remains undisclosed.

Designed primarily for commercial applications, AutoNxt?s electric tractors are poised to transform sectors such as agriculture, airports, biomass plants, construction, and solar farms. These tractors boast cutting-edge features including high-torque, high-voltage electric powertrains, self-driving technology with a swappable modular battery system, and rapid 2-hour charging capabilities.

Moreover, AutoNxt offers a comprehensive mobile app integrated with IoT technology, facilitating optimal tractor performance monitoring and streamlined fleet management. The company asserts that the reduced maintenance, fuel expenses, and operational costs of its electric tractors enable owners to recoup their investment in less than two years.

Kaustubh Dhonde, Founder and CEO of AutoNxt, expressed his enthusiasm, stating, ?The latest funding from Saama and all our investors empowers us to accelerate our engineering endeavors and swiftly establish our brand as a reliable, global, cutting-edge mobility platform, guided by our 'India for India' philosophy.?

Hemant Asher, Partner at Saama, echoed this sentiment, saying, ?We?re delighted to support AutoNxt, as we firmly believe in Industry 5.0 as a pivotal driver of India?s economic progress. The company?s indigenous technology platform tailored for the Indian market, coupled with its unwavering focus on the commercial segment, reinforces our confidence in its potential.?

The funding announcement comes at a time of burgeoning growth in India?s electric vehicle (EV) market. According to recent data released by the Ministry of Road Transport and Highways, EV sales in India surged to a record 486,669 units in the first quarter of 2024, marking a remarkable year-over-year increase of over 40%. This exponential growth underscores the increasing demand for sustainable mobility solutions in the country.

In parallel, Mercom Capital Group?s latest report on Funding and M&A in the storage & grid sector revealed a 55% decline in venture capital funding for smart grid initiatives, totaling $1.5 billion across 47 deals in 2023, compared to $3.3 billion in 46 deals in 2022. Despite this downturn, investments in innovative ventures like AutoNxt signal a continued commitment to advancing sustainable infrastructure and technology in India and beyond.

AutoNxt Automation, a pioneering e-mobility technology startup headquartered in Maharashtra, has successfully secured funds in a Pre-Series A funding round aimed at financing the launch of its revolutionary electric tractor equipped with self-driving capabilities. The funding initiative, spearheaded by Saama, an early-stage venture capital firm based in India, saw the participation of notable investors including Amit Singhal, former Head of Google?s search division, Suveer Sinha from KKR Capstone, Bluehill Capital, Keiretsu Forum, and Soonicorn Ventures, among others. The exact amount raised in this funding round remains undisclosed. Designed primarily for commercial applications, AutoNxt?s electric tractors are poised to transform sectors such as agriculture, airports, biomass plants, construction, and solar farms. These tractors boast cutting-edge features including high-torque, high-voltage electric powertrains, self-driving technology with a swappable modular battery system, and rapid 2-hour charging capabilities. Moreover, AutoNxt offers a comprehensive mobile app integrated with IoT technology, facilitating optimal tractor performance monitoring and streamlined fleet management. The company asserts that the reduced maintenance, fuel expenses, and operational costs of its electric tractors enable owners to recoup their investment in less than two years. Kaustubh Dhonde, Founder and CEO of AutoNxt, expressed his enthusiasm, stating, ?The latest funding from Saama and all our investors empowers us to accelerate our engineering endeavors and swiftly establish our brand as a reliable, global, cutting-edge mobility platform, guided by our 'India for India' philosophy.? Hemant Asher, Partner at Saama, echoed this sentiment, saying, ?We?re delighted to support AutoNxt, as we firmly believe in Industry 5.0 as a pivotal driver of India?s economic progress. The company?s indigenous technology platform tailored for the Indian market, coupled with its unwavering focus on the commercial segment, reinforces our confidence in its potential.? The funding announcement comes at a time of burgeoning growth in India?s electric vehicle (EV) market. According to recent data released by the Ministry of Road Transport and Highways, EV sales in India surged to a record 486,669 units in the first quarter of 2024, marking a remarkable year-over-year increase of over 40%. This exponential growth underscores the increasing demand for sustainable mobility solutions in the country. In parallel, Mercom Capital Group?s latest report on Funding and M&A in the storage & grid sector revealed a 55% decline in venture capital funding for smart grid initiatives, totaling $1.5 billion across 47 deals in 2023, compared to $3.3 billion in 46 deals in 2022. Despite this downturn, investments in innovative ventures like AutoNxt signal a continued commitment to advancing sustainable infrastructure and technology in India and beyond.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..