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Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round

EntrackrEntrackr · 3m ago
Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round
Medial

Defence-tech startup Ammunic Systems raises $1.1 Mn in seed round The proceeds will be channeled towards scaling existing products and building new indigenous defence technologies, Ammunic Systems said in a press release. Defence tech startup Ammunic Systems has raised $1.1 million in a seed funding round co-led by India Accelerator and its multistage VC arm Finvolve. The proceeds will be channeled towards scaling existing products and building new indigenous defence technologies, Ammunic Systems said in a press release. Launched in September 2024, Ammunic Systems is a defence R&D firm focused on the design and development of weapon systems with core competence in advanced electronic fuzes, warheads, and munition integration technologies. The startup aspires to become a next-generation defence and aerospace innovator. The Bengaluru-based startup aims to empower defense with precision and safety and to pioneer tomorrow's warheads for global security. It is committed to providing services that exceed client expectations and help them achieve their business goals. It focuses on research, design, development, and production of new generation weapon systems for current and future warfare. Priyanka Singhal, founder of Ammunic Systems, said, “This investment from India Accelerator is not just capital; it is a vote of confidence in a mission we have poured our hearts into. At Ammunic Systems, we are not just building defence technologies; we are building belief — that India can lead from the front in securing its own future." India Accelerator and Finvolve boast a strong portfolio of defence tech companies including IG Drones, Indrajaal, Zulu Defence, and others.

TrusTerra bags $1 Mn in pre-seed round co-led by Finvolve & India Accelerator

EntrackrEntrackr · 21d ago
TrusTerra bags $1 Mn in pre-seed round co-led by Finvolve & India Accelerator
Medial

TrusTerra, an AI-backed marketplace for used electric vehicles (EVs), has raised Rs 9 crore in a pre-seed funding round co-led by Finvolve and India Accelerator, with co-investment from GrowthCap Ventures and participation from strategic angels including Shishir Maheswari, Samrath Jit Singh, Ayush Lohia, Kapil Nirmal and other investors. The proceeds will be deployed to scale TruEV Score, expand its web and mobile marketplace across India’s top EV adoption cities and into Tier-2 markets, strengthen partnerships with OEMs, NBFCs, banks, and dealers, and invest in senior technology, operations, and business development hires. Launched this year by Tanvir Singh, Saurabh Arora, Madhu Reddy, and Chanakya Agarwal, TrusTerra is an AI-driven marketplace for pre-owned electric vehicles, offering solutions such as TruEV Score™, TerraCash™, and TerraBid™ to bring transparency, trust, and liquidity to India’s fast-growing EV market. The platform aims to build the resale backbone of India’s EV revolution. “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. Since inception, TrusTerra claims to have onboarded over 150 dealers, evaluated more than 2,000 used EVs for resale, and facilitated transactions worth over Rs 3 crore. Its TruEV Score™ is already being piloted with OEMs, NBFCs, and fleet operators, generating strong interest from lenders and manufacturers. The Delhi-based startup aims to certify 20,000 used EVs across over 20 cities, expanding its presence through its web and mobile marketplace that enables customers, dealers, and financiers to trade used EVs with verified battery scores and instant financing.

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