India’s Electric Tractor Start-Up Valuation Of $35 Million
Hyderabad-based electric tractor start-up, Cellestial e-Mobility, has declared finishing its pre-series A funding, achieving an attractive valuation of $35 million or nearly ₹ 254 crore. Cellestial, which has successfully closed its initial raise of $500,000 or nearly ₹ 3.63 crore, credits its sustainable and robust business model, growing user response coupled and consistent revenue generation for this achievement. However, it’s worth mentioning that Sonalika has launched first field ready electric tractor – Tiger Electric, making it the country’s first electric tractor.
This round of strategic financing there of the Co-founder of Electric Motor Company, Ashik Karim, Founder of UpCapital Investments, Canada’s leading EV financial advisory group who have not just invested but expressed a deeper interest in supporting the Company’s growth in branding and stewardship. Gurj Aujla and other High-Net-Worth Individuals from Canada with links to agriculture, commercial banking and wealth management have also participated in this round.
Siddhartha Durairajan, Founder and CEO, Cellestial, said “The USP of our Electric tractor is that it is the first in its class with affordable pricing, path-breaking battery technology and torque that is primed to take on the tractor markets, with expansive sales and service dealer network.” He further added, “Today’s farming tractors do not address the unmet needs for the agriculture sector which is not only looking for affordability but also has high-performance efficiency. With our tractor, we have solved this need with a market-ready solution, backed by our technological expertise and deep domain knowledge.”
Talking about the launch of the electric tractor, Durairajan said, “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 1700 tractors, and shipments to consumers and 5 distributors across the country will commence soon.”
