India, Dec. 23 -- EV motors manufacturer Naxatra Labs has raised $3 Mn (INR 26.86 Cr) in a Pre-Series A round led by Zerodha's Rainmatter. Besides, angel investors like Vijay Shekhar Sharma (CEO, Paytm), Aloke Bajpai (CEO, ixigo), Mohit Tandon (cofounder, Delhivery), Narayan GV (Ather Energy), Hemant Daga (CEO, Neo Assets), among others, also participated in the funding round.

The cleantech startup intends to utilise the fresh capital to fuel product development, expand R&D efforts and enter high-growth motor applications. The startup intends to scale production capacity to manufacture 50,000 motors per month, grow export footprint and increase hiring across the organisation.

"Naxatra has successfully taken multiple products from R&D to...