Hyderabad-based machine manufacturing startup Autocracy Machinery has successfully raised Rs 5 crore in a seed round. This funding round was led by Venture Catalysts, with additional participation from investors Nikhil Jaisinghani, Bharat Jaisinghani, and SFour Capital.
Previous Funding and Future Plans
Previously, Autocracy Machinery secured $1.2 million in 2023 from investors including Venture Catalysts, Z Nation Lab, Hem Angels, and others. The latest funds will be directed towards bolstering the company’s research and development capabilities, as well as expanding its manufacturing and marketing footprint, according to a press release from Autocracy Machinery.
Company Overview
Co-founded in 2020 by Santhoshi Buddhiraju and Laxman Vallakati, Autocracy Machinery specializes in the production of machines for construction, agriculture, and infrastructure sectors.
Their product lineup includes trenchers, landscaping machinery, agricultural attachments, and water body conservation machines like lake cleaners. The company prides itself on offering high-performance machinery at accessible prices for both business and individual clients.
Market Reach and Export
Autocracy Machinery exports its products to regions such as the Middle East and Africa, highlighting the international demand for their innovative solutions.
Industry Developments
In related news, 9Unicorns, a subsidiary of the Venture Catalysts Group, has rebranded itself as 100Unicorns. The group also announced the launch of its second accelerator fund, 100Unicorns Fund II, with a target size of $200 million, including a green-shoe option of $100 million.
This move signifies a significant step in supporting early-stage startups and fostering innovation in various sectors.
Avinash Dyal