Moonrider, a Bangalore-based electric tractor technology company, has raised USD 6 million in its Series A round. The investment was led by pi Ventures, one of the country’s most prominent deep-tech funds known for supporting cutting-edge innovation, with additional participation from Singularity AMC, along with existing investors Advantedge Founders and Micelio Fund.
The global electric tractor market is set for rapid expansion, with analysts projecting a CAGR of more than 20% in the coming years. India, globally the largest tractor market with 1 million diesel tractors sold annually, is expected to witness a significant uptick in electric tractor adoption. As fuel and operating costs continue to erode farm profitability, farmers and fleet operators are actively seeking more economical solutions. Moonrider electric tractors directly address this need, reducing the cost of land preparation and farming activities by up to 80%. Unlike most electric alternatives, Moonrider has achieved true price parity with the upfront cost of diesel tractors, powered by deep vertical integration across drivetrain, battery systems, and electronics. By lowering both purchase cost and operating cost, Moonrider electric tractors meaningfully increase farmer income while building a cleaner, more productive, and more sustainable future for agriculture.
Moonrider is currently the only electric tractor company in India with a fully homologated, road-ready product portfolio, and these investments will help transition the platform from pilots to full commercial deployment.
Speaking about the milestone, 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, added, “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, added, “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, added, “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, added, “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.”
