BENGALURU: Hyderabad-based electric vehicle start-up Cellestial, which claims to be manufacturing India’s first e-tractor, said that it has raised fresh funding at a $35 million valuation in a pre-Series A round. With the fresh funds raise, the company plans to take its e-tractors to markets such as Mexico and Canada, with the company saying that it would be able to offer low operating costs for farmers.
Celestial said in a statement that with “growing user response coupled with a consistent revenue generation”, it had successfully closed its initial $0.5 million fund raise. The round was led by Ashik Karim, founder of UpCapital Investments. Siddhartha Durairajan, founder and CEO, Cellestial, said that the USP of the company’s electric tractor is its affordable pricing, “path-breaking” battery technology, and torque that is primed to take on the tractor markets.
“Our affordable green EV Tractor... is that it has a very low operating cost. We plan to introduce our affordable tractors in the global market next year. Starting this year, Cellestial will start shipping units to early buyers, dealers in India followed by Canadian and Mexican pilot markets. The order book is around 1,700 tractors, and shipments to consumers and 5 distributors across India will commence soon.” he said.
