Naxatra Labs raises $3 million in Pre-Series A funding led by Rainmatter

Naxatra Labs, a company engaged in the design and manufacture of electric motors for electric vehicles (EVs) and industrial applications, has raised $3 million in a Pre-Series A funding round led by Rainmatter. The round also saw participation from founders, operators, and angel investors.

Participants in the round include Mohit Tandon (Delhivery), Himanshu Aggarwal (Aspiring Minds), Vijay Shekhar Sharma (Paytm), Aloke Bajpai (Ixigo), Anupam Jalote (iCEM), Narayan (Ather Energy), Soumitra (Operators Studio), Hemant Daga (Neo Assets), among others.

Naxatra Labs develops electric motor technology covering electromagnetic design, validation, and production. The company has been operating for over four years and has moved multiple products from research to production. It currently works with domestic customers and export markets. Following the fundraise, Naxatra Labs plans to expand its R&D activities, enter additional motor application segments, scale manufacturing operations, and increase exports.

Commenting on the investment, Himanshu Aggarwal, Co-founder of Giraffe Studios and Angel Investor said, “We are excited to see the progress at Naxatra—our first deeptech energy transition bet at Giraffe Studios. The energy transition is predicated on power electronics, battery technology, and traction, and we believe Naxatra will play a significant and leading role in India’s traction initiatives. Congratulations to the team, and we look forward to continuing our partnership.”

Vishvesh from Rainmatter stated that, “At Rainmatter, we’ve been looking closely at deeptech and hardware over the last few years, especially founders solving hard problems from first principles. Naxatra fits that vision perfectly—building traction and electromagnetic devices that are innovated, designed, and manufactured in India. We’re extremely happy to back the team and lead this round, and we believe they will make waves in this field while paving the way for others to innovate.”

Abhilash, Co-founder and CEO of Naxatra Labs, said, “We’re excited about this investment round, which reflects strong confidence from our existing investors as well as the addition of new partners. The electric motor market is experiencing strong tailwinds driven by rapid electrification, growing demand for efficient motors, and India’s emergence as a global manufacturing alternative. Naxatra has successfully taken multiple products from R&D to production, and this funding will enable us to accelerate the development of new product lines, expand our team across the organization, and increase our production capacity to 50,000 motors per month.”

Also read: Naxatra Labs raises Seed Round to advance EV motor technology