TrusTerra, India’s first AI-backed marketplace for used electric vehicles (EVs), has successfully raised ₹9 Crore in a Pre-Seed funding round led by Finvolve and India Accelerator, with co-investment from GrowthCap Ventures and participation from strategic angels including Shishir Maheswari (E-Mobility/Eversource Capital), Samrath Jit Singh (Trontek Batteries), Ayush Lohia (Lohia Auto), and other investors from the EV and fintech ecosystem.
Funding Purpose and Strategic Goals
The capital infusion will be used to:
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Scale TruEV Score™, India’s first AI-driven metric for EV battery health, establishing it as the benchmark for resale and financing.
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Expand TrusTerra’s web and mobile marketplace across top EV adoption cities and Tier-2 markets.
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Strengthen partnerships with OEMs, NBFCs, banks, and dealers.
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Enhance the TerraCash™ instant-sell platform, improving liquidity in the used EV market.
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Recruit senior talent in technology, operations, and business development to support scaling efforts.
Tanvir Singh, Co-founder & CEO, TrusTerra, said:
“With our TruEV Score™ and instant-sell marketplace, TrusTerra is unlocking trust and liquidity in India’s pre-owned EV market.”
Investor Confidence and Market Potential
Ashish Bhatia, Founder & CEO of India Accelerator, highlighted:
“Used EV resale and battery health transparency are emerging as key drivers for EV adoption at scale. TrusTerra is building the backbone of a truly sustainable EV resale ecosystem.”
Pratekk Agarwaal, Founder & GP at GrowthCap Ventures, added:
“TruEV Score™ has the potential to do for EVs what the Bureau score did for credit, unlocking trust, financing, and adoption in India’s clean mobility sector.”
With India’s EV market projected to reach 10 million annual sales by 2030, resale and financing infrastructure will be crucial for sustained growth—a gap TrusTerra aims to close.
Current Traction and Future Plans
Since inception, TrusTerra has:
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Onboarded 150+ dealers.
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Evaluated 2,000+ used EVs for resale.
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Facilitated transactions worth over ₹3 Crore.
The TruEV Score™ is already being piloted with OEMs, NBFCs, and fleet operators, generating strong interest from lenders and manufacturers. Over the next 18 months, TrusTerra aims to:
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Certify 20,000 used EVs across 20+ cities.
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Expand its web and mobile marketplace, enabling verified battery scores and instant financing for buyers, dealers, and financiers.
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