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India’s first AI-powered used electric vehicle (EV) marketplace, TrusTerra, has announced the successful completion of a ₹9 crore pre-seed funding round. The round was 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), and Kapil Nirmal.
TrusTerra plans to use the funds to scale its AI-based tool, TruEV Score™, an advanced metric that evaluates the battery and overall health of electric vehicles. The company aims to expand its online marketplace across major Indian cities and Tier-2 markets, making buying and selling used EVs more transparent and reliable.
The funding will also be used to establish TruEV Score™ as a benchmark for used EV health assessment, while strengthening TrusTerra’s partnerships with OEMs, NBFCs, banks, and dealers. The company plans to hire senior professionals in technology, operations, and business development. Additionally, it will scale TerraCash™, its instant-sell platform, to enhance liquidity in the used EV market.
Commenting on the milestone, Tanvir Singh, Co-founder & CEO of TrusTerra, said:“With our TruEV Score™ and instant-sell marketplace, we are unlocking trust and liquidity in India’s used EV market.”
Ashish Bhatia, Founder & CEO of India Accelerator and Co-Founder of Finvolve, said:“Used EV resale and battery health transparency are two key pillars for large-scale EV adoption. TrusTerra is not only addressing these challenges but also building the foundation of a sustainable EV resale ecosystem.”
Pratekk Agarwaal, Founder & GP at GrowthCap Ventures, added:“TrusTerra’s TruEV Score™ can do for EVs what the Bureau score did for credit. By enabling trust and financing, it removes one of the biggest barriers to clean mobility.”
India’s EV market is expected to reach 10 million annual sales by 2030, making resale and financing infrastructure critical for sustaining this growth. TrusTerra aims to bridge this gap through its AI-driven marketplace.
Since inception, TrusTerra has onboarded over 150 dealers, evaluated 2,000+ used EVs, and facilitated transactions worth ₹3 crore. Its 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 plans to certify 20,000 used EVs across 20+ cities, offering verified battery scores and instant financing through its digital platform to build trust and convenience in India’s pre-owned EV ecosystem.
