Autocracy Machinery raises USD 1.2 million funding in seed round led by Venture Catalysts
Autocracy Machinery (Autocracy), a manufacturer of trenching, turf and construction machinery has announced securing a USD 1.2 million seed funding led by Venture Catalysts.
Investors Nikhil and 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.
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.
«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,» said Santhoshi Buddhiraju, co-founder at Autocracy.
Founded in 2020 by IITian Santhoshi Buddhiraju and serial entrepreneur Laxman Vallakati, Autocracy caters to multiple sectors such as agriculture, telecommunications, landscaping, irrigation, civil engineering and infrastructural development. Presently, India imports heavy-duty machinery that is not optimised for the Indian use case.
