TrusTerra, India’s first AI-backed marketplace for used electric vehicles (EVs), has raised ₹9 crore in a pre-seed funding round led by Finvolve and India Accelerator, with participation from GrowthCap Ventures and several strategic angel investors including Shishir Maheswari (MD, E-Mobility/Eversource Capital), Samrath Jit Singh (Founder, Trontek Batteries), Ayush Lohia (CEO, Lohia Auto), Kapil Nirmal, and others from the EV and fintech sectors.
The funding will be utilized to scale TruEV Score™, India’s first AI-driven EV health metric, and position it as the industry benchmark for resale and financing. TrusTerra also plans to expand its web and mobile marketplace across major EV adoption hubs and Tier-2 cities, strengthen partnerships with OEMs, NBFCs, banks, and dealers, and make strategic hires in technology, operations, and business development.
Additionally, the company aims to enhance TerraCash™, its instant-sell platform designed to boost liquidity in the pre-owned EV market.
“With our TruEV Score™ and instant-sell marketplace, TrusTerra is unlocking trust and liquidity in India’s pre-owned EV market,” said Tanvir Singh, Co-founder & CEO, TrusTerra. “Our mission is to build the resale backbone of India’s EV revolution, ensuring transparency in battery health and trust in transactions.”
Ashish Bhatia, Founder & CEO of India Accelerator and Co-Founder of Finvolve, highlighted the market potential, saying, “Used EV resale and battery health transparency are emerging as key drivers for EV adoption at scale. TrusTerra’s innovative approach positions it as a critical enabler for a sustainable EV resale ecosystem.”
Backing from investors reflects growing confidence in solutions that address two major challenges for India’s EV sector — resale value and financing access.
Pratekk Agarwaal, Founder & GP at GrowthCap Ventures, compared the company’s innovation to a breakthrough in financial transparency: “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 tackling one of the most critical barriers to clean mobility.”
With India’s EV market projected to touch 10 million annual sales by 2030, TrusTerra aims to fill critical infrastructure gaps in resale and financing. Since its inception, the company has onboarded 150+ dealers, evaluated over 2,000 used EVs, and facilitated transactions exceeding ₹3 crore.
Over the next 18 months, TrusTerra plans to certify 20,000 used EVs across 20+ cities, empowering customers, dealers, and financiers to trade verified EVs with transparent battery scores and instant financing support.
