Hyderabad-based machine manufacturing startup Autocracy Machinery has successfully raised Rs 5 crore in a pre-Series A funding round led by Venture Catalysts.
This round also saw participation from Nikhil Jaisinghani, Bharat Jaisinghani, and SFour Capital. The new capital infusion follows an earlier funding round in 2023, where the company secured $1.2 million from Venture Catalysts, Z Nation Lab, Hem Angels, and others.
The proceeds from this round will be allocated towards enhancing Autocracy Machinery’s research and development capabilities, as well as expanding its manufacturing and marketing footprint, the company stated in a press release.
Founded in 2020 by Santhoshi Buddhiraju and Laxman Vallakati, Autocracy Machinery specializes in manufacturing machines for construction, agriculture, and infrastructure purposes. Their product range includes trenchers, landscaping machinery, agricultural attachments, and water body conservation machines such as lake cleaners. The company exports its products to the Middle East and Africa, and claims that its machinery offers superior performance while being priced to ensure accessibility for both business and individual clientele.
In related news, 9Unicorns, a part of the multistage investing firm Venture Catalysts Group, has rebranded itself to 100Unicorns. Additionally, it 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.
Autocracy Machinery’s latest funding round highlights the growing investor confidence in the company’s potential to revolutionize the machine manufacturing sector and expand its global footprint.
