Machine manufacturing startup Autocracy Machinery has raised Rs 5 crore in a a pre Series A round led by Venture Catalysts along with participation from Nikhil Jaisinghani, Bharat Jaisinghani and SFour Capital.
The Hyderabad-based company had earlier secured $1.2 million back in 2023 from Venture Catalysts, Z Nation Lab, Hem Angels and others.
The proceeds will be allocated towards enhancing its research and development capabilities, and expanding its manufacturing and marketing footprint, Autocracy Machinery said in a press release.
Co-founded in 2020 by Santhoshi Buddhiraju and Laxman Vallakati, Autocracy manufactures machines for construction, agriculture, and infrastructure purposes. The company offers a comprehensive range of products, including trenchers, landscaping machinery, agricultural attachments, and water body conservation machines like lake cleaners.
Autocracy exports its products to the Middle East and Africa. The company also claims to have machinery which has superior performance and is priced to ensure accessibility for both business and individual clientele.
Recently, 9Unicorns, part of multistage investing firm Venture Catalysts Group, rebranded itself to 100Unicorns. It also announced the launch of its second accelerator fund called 100Unicorns Fund II with a target size of $200 million including a green-shoe option of $100 million.
Source: entrackr.com
