Hyderabad (Telangana) [India], May 27 (ANI): E-tractor startup Cellestial has been valued at Rs 255 crore and raised about Rs 3.65 crore in pre-series A fundraise.
High net worth individuals from Canada with links to agriculture, commercial banking and wealth management have participated in the first round of funding.
Siddhartha Durairajan, Founder and CEO of Cellestial, said the unique selling proposition of e-tractor is affordable pricing, path-breaking battery technology and torque.
"It has a very low operating cost. We plan to introduce our affordable tractors in the global market next year," he said.
Cellestial will start shipping units to early buyers and dealers in India this year followed by Canadian and Mexican pilot markets. The order book is around 1,700 tractors, said Durairajan.
Syed Mubasheer, Co-founder and Chief Technology Officer, said: "Our proprietary battery technology and deep understanding of optimising the performance in e-propulsion makes the difference in our e-tractor."
Cellestial's tractors have undergone 1,000 hours of rigorous field tests to confirm market readiness, he said. (ANI)