Zerodha's Rainmatter Invests $3 Million in EV Startup Naxatra Labs
The climate-focused fund backs the electric vehicle startup as part of its sustainability investment thesis.
Key Facts
| Detail | Value |
|---|---|
| Deal size | $3 M |
| Sector | Rainmatter |
| Coverage | Startup Funding |
Rainmatter, the climate investment arm of Zerodha, has invested $3 million in Naxatra Labs, an electric vehicle startup focused on building sustainable mobility solutions. The round also saw participation from angel investors and the company's founders.
About Naxatra Labs
Naxatra Labs is building:
Rainmatter's Thesis
Rainmatter has been actively investing in climate tech and sustainability startups:
"We believe the transition to electric mobility is inevitable," said Nithin Kamath, co-founder of Zerodha. "Naxatra is building critical infrastructure for this transition."
India's EV Opportunity
The Indian EV market is projected to reach $150 billion by 2030:
Challenges
Despite challenges, investors see EV infrastructure as a compelling opportunity given India's decarbonization commitments.
Reported by Rohit Menon. Spotted an error in this story? Request a correction or email corrections@startupory.com. See our editorial policy.
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