Cellestial, Hyderabad based e-Mobility startup, has announced that it raised USD 500,000 in pre-Series A funding, which makes the startup at a valuation of USD 35 million.
This round was led by the founder of UpCapital Investments, Ashik Karim, a Canadian EV financial group. This round also saw the participation of Gurj Aujla and a few more High Networth Individuals (HNI) from Canada. These investors have links with commercial banking, Wealth Management and Agriculture.
The startup will ship its units to the past buyers and dealers in the market of India, Mexico and Canada.
About Cellestial-
Cellestial, is a city-based startup, focused to build electric tractors. It was established and founded in May 2019 by Siddhartha Durairajan based in Hyderabad.
Celestial claimed its very first electric tractor’s prototype in March 2020 with attributes like regenerative braking, residential AC, superfast charging, power charging, and battery swap.
The battery used in these tractors are a smart Li-ion battery technology with a robust build, intelligent features and product aesthetics, the tractor is built to run for a longer time span on electricity with a zero-emission, stress-free operation and full load.
The startup has undergone many hours of tough and rigid field tests, including vibrations caused by engine revs, all to make sure that the tractor is ready for the market.
The CEO of the company said that modern day’s farming tractors do not look up for the needs of the agriculture sector, because nowadays the farmers need a tractor that is not only affordable but has a high-performance efficiency.
Words from the CEO –
“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,” said Siddhartha Durairajan, Co-founder and CEO, Cellestial.
“The uniqueness of our 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 and dealers in India, followed by Canadian and Mexican markets. The order book is around 1,700 tractors, and shipments to consumers and five distributors across the country will commence soon. With our tractor, we have solved this need with a market-ready solution, backed by our technological expertise and deep domain knowledge,” – added Siddhartha.
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