Marquee investors Nikhil and Bharat Jaisinghani, Executive Directors, Polycab India Limited, Meghna Agarwal, CEO of IndiQube, Abhishek Rungta, Partner at Seeders, and others participated in this round.
Published Date – 03:39 PM, Mon – 25 September 23
Hyderabad: City-based Autocracy Machinery Private Limited (Autocracy), certified manufacturer of trenching, turf, and construction machinery has announced securing a $1.2 million seed funding led by Venture Catalysts on Monday.
Marquee investors Nikhil and Bharat Jaisinghani, Executive Directors, Polycab India Limited, Meghna Agarwal, CEO of IndiQube, Abhishek Rungta, Partner at Seeders, and others participated in this round, according to a statement.
The funding will be used to expand Autocracy’s domestic and global distribution footprint, invest in R&D and build a state-of-the-art industrial unit to streamline production. Autocracy has clocked a three-fold increase in revenue in the past years and is well-positioned to achieve revenues of Rs 60 crore by the fiscal year 2025.
Founded in 2020 by IITian, Santhoshi Buddhiraju and serial entrepreneur Laxman Vallakati, Autocracy’s cutting-edge solutions cater to multiple sectors such as agriculture, telecommunications, landscaping, irrigation, and others.
“India’s construction equipment industry has experienced rapid growth in recent years and is projected to reach a staggering $160 billion by 2027. Investing in Autocracy resonates deeply with our mission to support and promote the ‘Make in India’ initiative,” said Dr. Apoorva Ranjan Sharma, Co-founder at Venture Catalysts.
With a dynamic team of 100 engineers, researchers, and workforce, Autocracy is actively contributing to India’s most ambitious fibre optic and water pipeline projects (Jal Jeevan Mission).
