Naxatra Labs Bags $3 Mn To Accelerate EV Motor Production

EV motors manufacturer Naxatra Labs has raised $3 Mn (INR 26.86 Cr) in a Pre-Series A round led by Zerodha’s Rainmatter. Besides, angel investors like Vijay Shekhar Sharma (CEO, Paytm), Aloke Bajpai (CEO, ixigo), Mohit Tandon (cofounder, Delhivery), Narayan GV (Ather Energy), Hemant Daga (CEO, Neo Assets), among others, also participated in the funding round.

The cleantech startup intends to utilise the fresh capital to fuel product development, expand R&D efforts and enter high-growth motor applications. The startup intends to scale production capacity and grow its export footprint.

“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,” Naxatra Labs’ cofounder Abhilash Maurya said.

Founded in 2021 by Maurya, Gajendra Jain, Piyush Verma and Arnav Biswas, Naxtra Labs designs and manufactures high-efficiency electric motors for electric vehicles (EVs) and industrial applications.

It offers both axial and radial flux motor technologies, claiming to enhance vehicle efficiency by 10% while reducing weight by 20% compared to existing market solutions. Its product portfolio includes motors and controllers for two-wheelers like bikes, scooters, and mopeds.

Prior to this round, the startup had raised an undisclosed amount in a seed funding round in December last year, led by GVFL, along with Rainmatter and other founders that also were a part of the recent round.

Important to mention that Rainmatter has taken part in both funding rounds which is in line with it doubling down on climatetech startups recently. It also poured in fresh investment in climate tech startup Aurassure earlier this year. With a focus on climatetech, the VC has also committed $200 Mn in funding and grants to individuals and organisations working in these areas.

“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,” Rainmatter’s investment analyst Vishvesh Krsihna said.

Climatetech funding itself has picked up in the country and globally, with $46 Bn poured into the sector this year by August 2025, up from $24 Bn reported last year. In India alone, $2.2Bn in new funding was made in the sector in the 18 months before August, a 340% jump from 2022.

Impact funds like those launched by Rainmatter are aiding the acceleration of innovation in this space, and more than 800 active ventures are making investments diversified across renewables, energy storage, climate-smart agriculture, and circular economy plays.