Cellestial E-mobility, a Hyderabad based start-up for electric tractors, has raised $500,000 (Rs. 3.63 crore) in its Pre-Series A funding valuing the company at $35 million (Rs. 254 crore).
Cellestial will start shipping units to early buyers, dealers in India followed by Canada and Mexico
Hyderabad-based electric tractor start-up, Cellestial e-Mobility, has announced completing its pre-series A funding, achieving an impressive 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.
Also Read: Sonalika Launches India’s First Field Ready Electric Tractor – Tiger Electric
This round of strategic financing included 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.
Commenting on the development, 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.”
Cellestial unveiled its first electric tractor prototype in March 2020 with features like battery swapping, regenerative braking, power inversion, residential AC power charging, and superfast charging. Integrating smart Li-ion battery technology with robust build, product aesthetics, and intelligent features, the Electric Tractor is built to run for longer periods with a full load, zero-emission, and stress-free operation. The new electric tractor prototype is a 150 Ah Lithium-Ion battery that powers a 4.4 kW electric motor capable of producing the equivalent of 18 bhp and develops 53 Nm of peak torque. The e-Tractor can do a top speed of 20 kmph and comes with a putting capacity of 1.2 tonnes. The battery can be fully charged in 6 hours with a regular charger, while with a fast charger it can be a 100 per cent battery capacity in 2 hours.
Talking about the arrival 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.”
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