Used EV marketplace TrusTerra raises $1 million in pre-seed round

TrusTerra, an AI-backed marketplace for used electric vehicles (EVs), has raised Rs 9 crore in a pre-seed funding round led by Finvolve and India Accelerator.

The round also saw participation from GrowthCap Ventures and strategic angels including Shishir Maheswari (MD, E-Mobility/Eversource Capital), Samrath Jit Singh (Founder, Trontek Batteries), Ayush Lohia (CEO, Lohia Auto), Kapil Nirmal and other EV and fintech ecosystem investors.

The funds will be used to scale TruEV Score, expand its web and mobile marketplace across India’s top EV adoption cities and Tier-2 markets, strengthen partnerships with OEMs, NBFCs, banks, and dealers, and invest in senior technology, operations, and business development talent.

Read also- Intangles raises $30 million Series B funding led by Avataar Venture

“Used EV resale and battery health transparency are emerging as key drivers for EV adoption at scale. Without addressing these two pillars, the industry’s growth remains fragile. TrusTerra’s early traction and innovative approach convinced us they are not just solving a challenge but building the backbone of a truly sustainable EV resale ecosystem that can endure and expand," said, Ashish Bhatia, Founder & CEO of India Accelerator and Co-Founder of Finvolve.

Tanvir Singh, Co-founder & CEO, TrusTerra, said in a statement, “With our TruEV Score™ and instant-sell marketplace, TrusTerra is unlocking trust and liquidity in India’s pre-owned EV market."

Pratekk Agarwaal, Founder & GP at GrowthCap Ventures, said, “TrusTerra’s TruEV Score™ has the potential to do for EVs what the Bureau score did for credit. By enabling trust in resale and unlocking financing, they are addressing one of the most critical barriers to clean mobility. We are excited to support this mission.”

Advertisment

About TrusTerra 

Founded in 2024 by Tanvir Singh, Saurabh Arora, Madhu Reddy and Chanakya Agarwal, the Delhi-based TrusTerra is an AI-driven marketplace for pre-owned electric vehicles, offer solutions like TruEV Score™, TerraCash™, and TerraBid™ to bring transparency, trust, and liquidity to India’s growing EV market. The platform aims to become the resale backbone of India’s EV ecosystem.

Since its inception, TrusTerra has onboarded over 150 dealers, evaluated more than 2,000 used EVs and facilitated transactions worth over ₹3 crore. Its TruEV Score™ is being piloted with OEMs, NBFCs and fleet operators, attracting strong interest from lenders and manufacturers.

The startup plans to certify 20,000 used EVs across 20+ cities, expanding its web and mobile marketplace to enable customers, dealers and financiers to trade pre-owned EVs with verified battery scores and instant financing.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Advertisment

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.