Naxatra Labs Raise $3 million in a Pre-Series A round

Ahmedabad-based deeptech startup, Naxatra Labs, has raised $3 million in a Pre-Series A round led by RainMatter (a Zerodha company) and participation from new and existing investors, including founders of several renowned Indian startups. 

The round saw participation from many existing investors, including Mohit Tandon (founder of Delhivery), Himanshu Aggarwal (founder of Aspiring Minds), Vijay Shekhar Sharma (founder of Paytm), Sunil Kalra, Aloke Bajpai (founder of ixigo), and Narayan (Ather R&D lead). The new investors include Anupam Jalote (CEO of iCEM), Soumitra Sharma, Hemant Daga (CEO of Neo Asset) and others.

Founded in 2021 by Abhilash Maurya, Arnav Biswas, and Piyush Verma, Naxatra Labs specialises in developing high-efficiency motor technology through deep R&D, serving the electric vehicle (EV), agricultural machinery, drone, power tool, and industrial applications markets.

The company focuses on customised drivetrain solutions tailored to Indian conditions, including weather and road conditions, thereby reducing reliance on imports.

The startup is replacing traditional EV motors with next-generation Axial Flux Technology, whose design delivers superior torque density and compactness, making it ideal for electric vehicles and high-performance applications. According to the deeptech startup, its motors offer up to 10% better performance than market leaders, extending EV range by 5-8%.

Naxatra Labs’ manufacturing of electric motors in India is crucial for cutting import costs for local EV manufacturers and accelerating the shift to sustainable industries.​

Furthermore, local production drives innovation, standardisation, and exports, and creates jobs. It minimises supply chain risks and enhances competitiveness globally.​ Domestic manufacturing aligns with government initiatives such as Make in India, fostering startups and scaling production to meet rising EV demand. 

In December 2024, the firm raised seed funding led by Gujarat Ventures and including Mohit Tandon, following pre-seed funding and government grants. 

The company plans to use the funding to accelerate the development of new product lines, expand its team and grow monthly production capacity to 50,000 motors.