Naxtara Labs obtained $3 million in Pre-Series A funding, primarily led by Rainmatter.

Naxtara Labs, which is into the operations of design and development of electric motors specifically for electric vehicles and industry applications, has raised a total of $3 million in Pre-Series A funding round led by Rainmatter. The round also witnessed participation from founders, operators and angel investors. 

Naxtara labs is involved in the manufacturing of electric motor technology which covers electromagnetic design, validation and production. The company has more than four years of experience and has converted various products from research to final production. 

With this fundraise, Naxtara Labs is planning to diversify its R&D activities, enter into additional motor application segments, scale manufacturing operations, and increase the volume of exports. 

The Co-Founder and CEO of Naxtara Labs expressed his views on this and said, “We are really excited about this investment round, which reflects commitment from our existing investors and addition of various new partners. 

Currently, the electric motor market is witnessing higher demands due to rapid electrification, growing demand for efficient motors and India emerging as a global manufacturing alternative. 

Naxtara has successfully converted various R&D products to final production and with this funding, we will be investing the funded amount towards the development of new product lines, expanding our teams and increasing our production capacity to 50,000 motors per month.”