EV motor startup Naxatra Labs raises $3 million led by Zerodha's Rainmatter, angel investors

Electric vehicle (EV) and industrial motor startup Naxatra Labs has raised $3 million led by Rainmatter, the venture investment arm of Zerodha. The deeptech startup develops end-to-end motor tech for EVs and industrial applications, from electromagnetic design and validation to final production.

The round also saw participation from several marque startup founders, operators, and angel investors, including Mohit Tandon of Delhivery, Himanshu Aggarwal of Aspiring Minds, Vijay Shekhar Sharma of Paytm, Aloke Bajpai of Ixigo, Anupam Jalote of iCEM, Narayan of Ather Energy, Soumitra Sharma of Operators Studio, and Hemant Daga of Neo Assets, among others.

The capital will be used to accelerate development of new motor platforms, expand the engineering and operations team, scale manufacturing capacity, and strengthen the company’s international presence. Naxatra plans to increase production capacity to around 50,000 motors per month over time.


Abhilash Maurya, cofounder of Naxatra, said 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 organisation, and increase our production capacity to 50,000 motors per month," he added.

The startup currently works with domestic customers and also serves export markets, Naxatra said in a statement.

Vishvesh Krishna from Rainmatter said the investment firm has 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."