Venture Catalysts, India’s leading early stage investment firm, also co-led the round. Family offices and investors from India and Africa such as Nikhil Jaisinghani, Bharat Jaisinghani and SFour Capital also participated in the current round. The funding comes nine months after it raised its seed round of Rs 10 crore from Venture Catalysts and VC Grid.
“We are driven by our commitment to design and manufacture world-class precision machinery and cost-effective attachments, in India. Our overarching mission is to play a pivotal role in establishing India as a global manufacturing and innovation powerhouse,” said Santhoshi Buddhiraju from Autocracy Machinery.
Founded in 2020 by IITian Santhoshi Buddhiraju and serial entrepreneur Laxman Vallakati, Autocracy’s solutions cater to multiple sectors such as agriculture, telecommunications, landscaping, irrigation, civil engineering and infrastructural development. The Hyderabad-based company will use the funding to enhance its research and development capabilities, expand its manufacturing and marketing footprint, and drive innovation in heavy machinery technology.
“Autocracy Machinery exemplifies the spirit of innovation that India needs to establish herself as a global manufacturing powerhouse. Their unwavering commitment to developing locally engineered solutions that meet the specific requirements of diverse industries is truly inspiring. We are excited to support their vision and contribute to the growth of a self-reliant and sustainable ecosystem for heavy machinery production in India,” said Apoorva Ranjan Sharma, cofounder, and managing director of Venture Catalysts Group.
Over the past two years, Autocracy served a diverse clientele spanning industrial giants such as Sterlite, L&T, MEIL to individual farmers and contractors. Autocracy has also forayed into the International market with products exported to the Middle East and Africa. Autocracy has made inroads into the export market, with their products currently in use in the Middle East and Africa. Autocracy has clocked a three-fold increase in revenue in past years and is well-positioned to achieve revenues of Rs 60 crore by the fiscal year 2025.
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