"Within the next 8-10 years, electric tractors will replace 50% of the diesel tractors"

Moonrider has recently been successful in securing a venture round of funding of $2.2 million (Rs 19 crore).

- Nitin Konde

This funding round was jointly led by AdvantEdge Founders and Micelio Technology Fund, in addition to a considerable number of angel investors. Moonrider is an Electric Tractor Technology Company founded in 2023, focused on developing heavy-duty electric tractors (e-tractors) designed to reduce farming costs and improve operational efficiency for farmers and fleet operators. In an interaction with AgroSpectrum, Anoop Srikantaswamy, Co-founder and CEO of Moonrider, shared trends and future of "Indian Electric Tractor Industry." Edited excerpts:

ANOOP SRIKANTASWAMY, Co-founder and CEO, Moonrider

What is the current market size of the Electric Tractor Market in India?

India is the largest tractor market with 1 million units sold last year amounting to $17 billion in revenue. Globally it is a $30 billion market with 1.8 million units sold. Pheonix Research, an international market research consultancy, projects that the e-tractors market in India will grow at a healthy compound annual growth rate (CAGR) of 21.5 percent between 2021 and 2027.

How do you envisage the future of e-tractors in the Indian agriculture sector?