Autocracy Machinery Private Limited (Autocracy), a manufacturer of trenching, turf and construction machinery, has raised $1.2 million in seed round led by Venture Catalysts.
Investors Nikhil & Bharat Jaisinghani (Executive Directors, Polycab India Limited), Meghna Agarwal (CEO, IndiQube), HEM Angels, and VC Grid joined this round.
The startup, founded in 2020 by IITian Santhoshi Buddhiraju and serial entrepreneur Laxman Vallakati, caters to multiple sectors such as agriculture, telecommunications, landscaping, and irrigation.
“We will use the funds to expand our domestic and global distribution footprint, invest in R&D and build an industrial unit to enhance and streamline production,” a company statement said on Monday.
The startup has a team of 100 engineers, researchers and other employees.
Published on September 25, 2023
