Electric vehicle (EV) tech startup Naxatra Labs has raised an undisclosed amount in its seed funding round.
The round was co-led by GVFL, along with prominent investors such as Delhivery founder Mohit Tandon and Aspiring Minds founder Himanshu Aggarwal.
Additional participants include Rainmatter by Zerodha, Paytm founder Vijay Shekhar Sharma, and Ixigo co-founders Aloke Bajpai and Rajnish Kumar, among others, according to a LinkedIn post by co-founder Abhilash Maurya.
Founded in 2021 by Abhilash Maurya, Piyush Verma, and Arnav Biswas, Naxatra Labs specializes in developing advanced motor solutions for EVs.
The company claims to provide light and efficient motors that utilize both axial and radial flux motor technologies. Their products cater to diverse sectors, including electric vehicles, agriculture, and power tools.
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The fresh funding is expected to bolster Naxatra Labs’ manufacturing capabilities and accelerate advancements in its technology.
Maurya emphasized the startup’s mission to strengthen India’s presence in EV tech and manufacturing, stating, “It is still day 0 for Naxatra Labs. It will fuel our vision to bring tech and manufacturing back to India.”
GVFL also highlighted the investment’s significance in a LinkedIn post, with its managing director noting, “We look forward to seeing Naxatra Labs transform the future of electric mobility.”
