India’s promising Electric Tractor Start-Up “Cellestial” Completes Pre-Series A Funding at significant 35M USD Valuation
Hyderabad, India, May 27, 2021: Hyderabad-based Startup Cellestial E-mobility, the maker of the first electric tractor in India has grabbed 35 Million Dollars valuation in its Pre-Series A fundraise. Buoyed by its sustainable, robust business model, growing user response coupled with a consistent revenue generation Cellestial successfully closed its initial raise of Half a million USD.
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 & 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, stated “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.”
“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 is around 1700 tractors, and shipments to consumers and 5 distributors across the country will commence soon.”
“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. ” Siddhartha added.
“Our proprietary battery technology and deep understanding of optimising the performance in the e-propulsion makes the difference in our Electric Tractor,” said Syed Mubasheer, Co-founder and CTO, Cellestial E-Mobility.
