Cellestial E-mobility, a Hyderabad-based electric tractor startup, raised $ 500,000 (Rs. 363 million) in pre-series A funding and valued the company at $ 35 million (Rs. 25.4 billion). ..
Cellestial will begin shipping units to early buyers, Indian dealers, followed by Canada and Mexico.
Hyderabad-based electric tractor startup Cellestiale-Mobility has announced that it has completed previous Series A funding and achieved an impressive $ 35 million or approximately Rs 25.4 billion valuation. Cellestial has successfully completed the initial $ 500,000 or Rs. 363 million funding, valued its sustainable and robust business model, and expanded user response and consistent revenue generation to this outcome. I will. However, it is worth mentioning that Sonarica launched Tiger Electric, the first field-ready electric tractor, making it the first electric tractor in the country.
Read also: Sonarika launches India’s first field-ready electric tractor-Tiger Electric
This set of strategic financing includes Ashik Karim, co-founder of Electric Motor Company, founder of UpCapital Investments, not only investing, but also supporting the company’s growth in branding and stewardship. Showed deep interest. Wealth Canadians and other high net worth individuals related to agriculture, commercial banking and wealth management also participated in the round.
Siddhartha Durairajan, Founder and CEO of Cellestial, commented on the development, saying: A market with an extensive sales and service dealer network. He added, “Today’s agricultural tractors do not meet the unmet needs of the agricultural sector, which demand not only affordability but also high performance efficiency. With our tractors, the market We have solved this need with a solution that is compatible with our technical expertise and deep domain knowledge. “
In March 2020, Cellestial announced the prototype of the first electric tractor with features such as battery replacement, regenerative braking, power reversal, residential AC power charging, and ultra-fast charging. By integrating smart lithium-ion battery technology with robust builds, product aesthetics, and intelligent features, Electric Tractor is built for long-term operation at full load, zero emissions, and stress-free operation. .. The prototype of the new electric tractor is a 150 Ah lithium-ion battery that powers a 4.4 kW electric motor equivalent to 18 bhp and produces a peak torque of 53 Nm. The e-Tractor can run a top speed of 20kmph and has a putting capacity of 1.2 tons. The battery can be fully charged in 6 hours with a regular charger, but with a fast charger it will reach 100% battery capacity in 2 hours.
“We plan to introduce affordable tractors to the global market next year. Starting this year, Cellestial will ship units to early buyers, Indian dealers and pilot markets in Canada and Mexico,” said Durairajan. The purchase order is about 1700 tractors and will soon be shipped to consumers and 5 distributors nationwide. “
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Indian Electric Tractor Startup Celestial Achieves $ 35 Million Valuation
Source link Indian Electric Tractor Startup Celestial Achieves $ 35 Million Valuation