Used EV marketplace TrusTerra raises ₹9 crore in Pre-Seed Funding Round

TrusTerra, an 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 co-investment from GrowthCap Ventures and participation from strategic angels including Shishir Maheswari (MD, E-Mobility/Eversource Capital), Samrath Jit Singh (Founder, Trontek Batteries), Ayush Lohia (CEO, Lohia Auto), and Kapil Nirmal.

The funding will be used to scale TrusTerra’s TruEV Score™, an AI-based metric for evaluating EV health, and expand its TerraCash™ instant-sell platform. The company plans to extend its web and mobile marketplace across major EV adoption cities and Tier-2 markets, strengthen partnerships with OEMs, NBFCs, banks, and dealers, and make technology, operations, and business development hires.

Since inception, TrusTerra has onboarded over 150 dealers, evaluated more than 2,000 used EVs, and facilitated transactions worth over ₹3 Crore. TruEV Score™ is being piloted with OEMs, NBFCs, and fleet operators, and the company aims to certify 20,000 used EVs across 20+ cities over the next 18 months.

“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.

Commenting on the investment, Ashish Bhatia, Founder & CEO of India Accelerator and Co-Founder of Finvolve, said, “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.”

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.”

India’s EV market is projected to reach 10 million annual sales by 2030. Analysts suggest that resale and financing infrastructure will be important for supporting this growth, an area TrusTerra aims to address.

TrusTerra is a marketplace for pre-owned electric vehicles that provides TruEV Score™, TerraCash™, and TerraBid™ for evaluating, buying, and financing used EVs. The company was founded by Tanvir Singh, Saurabh Arora, Madhu Reddy, and Chanakya Agarwal.

Also read: AI-based platform TrusTerra launched for India’s used EV market