Naxatra Labs raises Seed Round to advance EV motor technology

Naxatra Labs, a company specializing in electric vehicle motor technology, has secured Seed capital in a round led by GVFL, Mohit Tandon (Founder, Delhivery), and Himanshu Aggarwal (Founder, Aspiring Minds). Other investors in the round include Nithin Kamath’s Rainmatter Foundation, Vijay Shekhar Sharma (Founder, Paytm), Aloke Bajpai and Rajnish Kumar (Co-founders, Ixigo), Narayan (Ather Energy), and Sunil Kalra, among others.

Naxatra Labs focuses on the development of axial and radial flux motor technology for electric vehicles, agricultural machines, and power tools. With over four years of research focused on Indian driving conditions, the company has built and tested several motor variants, all produced in India. Naxatra Labs is in the process of setting up a production facility in Ahmedabad.

“We are excited to invest in Naxatra Labs, their focus is on lightweight and advanced motor technologies for local driving conditions. Their commitment to manufacture in India positions them as a key differentiator in the ecosystem. At GVFL, we are dedicated to supporting early-stage companies with scalable, sustainable technologies, and look forward to helping Naxatra Labs transform the future of electric mobility.” Said Mihir Joshi, MD at GVFL.

“India is making extraordinary strides in EV adoption. With favourable govt initiatives – Naxatra is primed to take the lead in building a motor technology company for Indian conditions. The team has demonstrated superior execution in technology development and these funds will help them further innovate and establish production capacity to serve the growing demand,” said Mohit Tandon, Founder Delhivery.

“We are thrilled to welcome all value-adding investors to Naxatra Labs. This infusion of capital and insight from experienced partners will catalyse our vision of transforming the Indian deeptech scenario with homegrown technology and mass production capacity.” said Abhilash, CEO and Co-founder of Naxatra Labs.

Naxatra Labs is expanding its R&D and production teams to enhance its capabilities. The company is receiving growing international interest in its products and is working on certifying its offerings to comply with global standards.

Also read: Naxatra Labs launches Axial Flux motors for EVs | Benefits of Axial Flux motors over Radial Flux