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Cellestial E-mobility, a Hyderabad based startup engaged in manufacture of electric tractors, has raised half a million dollars in its Pre-Series A funding valuing the company at $35 million.
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, Gurj Aujla and other high-net-worth individuals from Canada.
Siddhartha Durairajan, Founder and CEO, Cellestial, in a statement said, “The uniqueness of our affordable green EV Tractor targeted to Indian farmers 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 of around 1,700 tractors, and shipments to consumers and 5 distributors across the country will commence soon,” he said.
“Our proprietary battery technology and deep understanding of optimising the performance in the e-propulsion makes all the difference in our electric tractor,” said Syed Mubasheer, Co-founder and CTO, Cellestial E-Mobility.
Cellestial unveiled its first electric tractor prototype in March 2020. These tractors have undergone rigorous field tests to confirm market readiness.
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