Autocracy Machinery raises $1.2M funding in Seed round led by Venture Catalysts

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Autocracy Machinery Private Limited (Autocracy), an ISO 9001 certified manufacturer of trenching, turf and construction machinery has  announced securing a $1.2 million seed funding led by Venture Catalysts. 

Marquee investors Nikhil & Bharat Jaisinghani (Executive Directors, Polycab India Limited), Meghna Agarwal (CEO, IndiQube), Abhishek Rungta (Partner, Seeders), Srikanth Iyengar (CEO, Workforce Development, upGrad) and Abhishek Modi (Managing Partner Shiva Engg, VP-South Asia chapter, Stanford Seed Network) along with HEM Angels, VC Grid and S Four capital participated in this round. 

Founded in 2020 by IITian Santhoshi Buddhiraju and serial entrepreneur Laxman Vallakati, Autocracy’s cutting-edge solutions cater to multiple sectors such as agriculture, telecommunications, landscaping, irrigation, civil engineering and infrastructural development. Its pioneering machinery is three times more  efficient and is priced to ensure accessibility for both farmers and contractors, enabling them to harness the power of technology for enhanced efficiency. 

Presently, India imports heavy-duty machinery that is not optimised for the Indian use case. Imports result in cost escalation and often cause significant down-times due to a fractured consumables supply chain and an untimely maintenance regime. 

The funding will be used to expand Autocacy’s domestic and global distribution foot-print, invest in R&D and build out a state-of-the-art industrial unit to enhance and streamline production. Autocracy has clocked a three-fold increase in revenue in past years and is well-positioned to achieve revenues of Rs 60 crore by the fiscal year 2025.

On the fundraise, Autocracy shared its vision: “We are driven by our commitment to India’s “Make in India” and “Make for the World” mantras by redefining heavy duty precision engineering in India with efficient, locally designed, and cost-effective machinery. Our overarching mission is to play a pivotal role in establishing India as a global manufacturing and innovation powerhouse.”

Autocracy’s signature line of products include a suite of trenchers and lawn mowers, complemented by an array of versatile host-vehicle agnostic attachments. 

Over the past 18 months Autocracy served a diverse clientele spanning industrial giants such as Sterlite, L&T, MEIL to individual farmers and contractors. Autocracy has also forayed into the International market with products exported to the Middle East and Africa.

Commenting on this significant funding round, Dr. Apoorva Ranjan Sharma, Co-founder at Venture Catalysts, underscored, “India’s construction equipment industry has experienced rapid growth in recent years and is projected to reach a staggering $160 billion by 2027. This expansion is fueled by a multitude of factors, including government-led infrastructure development initiatives, surges in foreign investments and the flourishing real estate sector. India is increasingly committed to reducing its reliance on expensive imported equipment. Investing in Autocracy resonates deeply with our mission to support and promote the ‘Make in India’ initiative.”

With a dynamic team of 100 engineers, researchers and workforce, Autocracy is  actively contributing to India’s most ambitious fibre optic and water pipeline projects (Jal Jeevan Mission), enriching communities.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sarthak Luthra
Sarthak Luthra
Hey, there! I am the tech guy. I get things running around here and I post sometimes. ~ naam toh suna hi hoga, ab kaam bhi dekhlo :-)

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Autocracy Machinery raises $1.2M funding in Seed round led by Venture Catalysts

Autocracy Machinery Private Limited (Autocracy), an ISO 9001 certified manufacturer of trenching, turf and construction machinery has  announced securing a $1.2 million seed funding led by Venture Catalysts. 

Marquee investors Nikhil & Bharat Jaisinghani (Executive Directors, Polycab India Limited), Meghna Agarwal (CEO, IndiQube), Abhishek Rungta (Partner, Seeders), Srikanth Iyengar (CEO, Workforce Development, upGrad) and Abhishek Modi (Managing Partner Shiva Engg, VP-South Asia chapter, Stanford Seed Network) along with HEM Angels, VC Grid and S Four capital participated in this round. 

Founded in 2020 by IITian Santhoshi Buddhiraju and serial entrepreneur Laxman Vallakati, Autocracy’s cutting-edge solutions cater to multiple sectors such as agriculture, telecommunications, landscaping, irrigation, civil engineering and infrastructural development. Its pioneering machinery is three times more  efficient and is priced to ensure accessibility for both farmers and contractors, enabling them to harness the power of technology for enhanced efficiency. 

Presently, India imports heavy-duty machinery that is not optimised for the Indian use case. Imports result in cost escalation and often cause significant down-times due to a fractured consumables supply chain and an untimely maintenance regime. 

The funding will be used to expand Autocacy’s domestic and global distribution foot-print, invest in R&D and build out a state-of-the-art industrial unit to enhance and streamline production. Autocracy has clocked a three-fold increase in revenue in past years and is well-positioned to achieve revenues of Rs 60 crore by the fiscal year 2025.

On the fundraise, Autocracy shared its vision: “We are driven by our commitment to India’s “Make in India” and “Make for the World” mantras by redefining heavy duty precision engineering in India with efficient, locally designed, and cost-effective machinery. Our overarching mission is to play a pivotal role in establishing India as a global manufacturing and innovation powerhouse.”

Autocracy’s signature line of products include a suite of trenchers and lawn mowers, complemented by an array of versatile host-vehicle agnostic attachments. 

Over the past 18 months Autocracy served a diverse clientele spanning industrial giants such as Sterlite, L&T, MEIL to individual farmers and contractors. Autocracy has also forayed into the International market with products exported to the Middle East and Africa.

Commenting on this significant funding round, Dr. Apoorva Ranjan Sharma, Co-founder at Venture Catalysts, underscored, “India’s construction equipment industry has experienced rapid growth in recent years and is projected to reach a staggering $160 billion by 2027. This expansion is fueled by a multitude of factors, including government-led infrastructure development initiatives, surges in foreign investments and the flourishing real estate sector. India is increasingly committed to reducing its reliance on expensive imported equipment. Investing in Autocracy resonates deeply with our mission to support and promote the ‘Make in India’ initiative.”

With a dynamic team of 100 engineers, researchers and workforce, Autocracy is  actively contributing to India’s most ambitious fibre optic and water pipeline projects (Jal Jeevan Mission), enriching communities.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Sarthak Luthra
Sarthak Luthra
Hey, there! I am the tech guy. I get things running around here and I post sometimes. ~ naam toh suna hi hoga, ab kaam bhi dekhlo :-)

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