According to the official press release, the round also saw participation from a group of startup founders, operators and angel investors, including Delhivery’s Mohit Tandon, Aspiring Minds cofounder Himanshu Aggarwal, Paytm founder Vijay Shekhar Sharma, Ixigo cofounder Aloke Bajpai, iCEM’s Anupam Jalote, Ather Energy cofounder Narayan Subramaniam, Operators Studio’s Soumitra Sharma and Neo Assets’ Hemant Daga, among others.
Founded as a deeptech startup, Naxatra Labs develops end-to-end electric motor technology for EV and industrial applications, spanning electromagnetic design and validation through to production.The company said that the fresh capital will be deployed to accelerate the development of new motor platforms, expand its engineering and operations teams, scale manufacturing capacity and strengthen its presence in international markets.
Naxatra plans to ramp up its production capacity to about 50,000 motors per month over time, the company said.
Abhilash Maurya, cofounder of Naxatra Labs, said that the electric motor market is seeing strong momentum driven by rapid electrification, rising demand for efficient motors and India’s growing role as an alternative global manufacturing base.
“Naxatra has successfully taken multiple products from R&D to production. This funding will help us accelerate new product development, expand our teams across functions and scale manufacturing to meet growing demand,” Maurya said.The startup currently works with domestic customers and also serves export markets.
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