AutoNxt Automation secures Pre-Series A funding from Saama
Summary
This positions the company as a highly competitive player on the global stage with its indigenously engineered advanced technology aligning well with the Indian Governments Atmanirbhar Bharat campaign and the Net Zero by 2070 target announced by the Honourable Prime Minister. Hemant Asher, Partner at Saama, remarked, Were thrilled to back AutoNxt, where our conviction is underpinned by our belief in Industry 5.0 as a core driver of Indias economic growth. The companys technology platform built in India for the Indian market and the founding teams sharp focus on the commercial segment in the current phase of their business further strengthens our conviction. He says, The latest funding from Saama and all our investors enables us to fast-track engineering efforts and promptly establish our brand as a dependable, global, cutting-edge mobility platform, with India for India as our guiding mantra.Pankaj Goyal, Co-founder and COO of AutoNxt drawing from his senior leadership experience across Japanese, South Korean, and European corporations, is building a strategic, multidisciplinary team propelling AutoNxt towards global prominence in electric and autonomous technology. He says, The electric tractor is the first use case for our core technology, and after these successful deployments, we will diversify into other off-highway segments, allowing AutoNxt to expand its product portfolio and open up new lines of business.Swadeep Pillarisetti, senior advisor and board member at AutoNxt, has strategically guided the company so far and says, With Indias growing environmental concerns, strong recent government push for deep-tech investments, rapidly growing manufacturing capabilities and engineering talent pool, we are poised to become a global EV leader over the next decade.