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Former Mooving co-founder rolls out TrusTerra to boost pre-owned EV ecosystem

EntrackrEntrackr · 1m ago
Former Mooving co-founder rolls out TrusTerra to boost pre-owned EV ecosystem
Medial

In a significant step for India’s fast-growing electric mobility ecosystem, Tanvir Singh, former top executive and co-founder of Mooving, today unveiled his new venture, TrusTerra, alongside co-founders Saurabh Arora, Madhu Reddy, and Chanakya Agarwal. TrusTerra aims to solve the sector’s most pressing challenges: lack of trust, standardisation, and resale value in the pre-owned EV market. The platform is designed to bridge this gap with a transparent, data-driven, and standardised assessment framework that makes used EV transactions credible and liquid. According to market research, India’s EV sector is projected to cross 10 million units in annual sales by 2030, yet resale penetration remains under 2%. “Used EVs are not a side market, they are the market,” said Tanvir Singh, co-founder of TrusTerra. “For India to electrify affordably, a trusted resale backbone is critical. We are building that backbone to ensure every EV owner can unlock fair value, every dealer can trade with confidence, and every buyer can purchase with trust.” TrusTerra’s innovative product, TruEV Score, is a proprietary AI-driven valuation system that measures an EV’s battery health, range consistency, and remaining useful life (RUL). Much like a credit score for EVs, it ensures fair pricing, strengthens buyer confidence, and creates clarity for dealers and financial institutions alike. The Delhi-based startup’s other products include TerraCash, a rapid diagnostic and liquidity service that lets EV owners instantly assess their vehicle’s health and receive bids with payment within 24 hours, and TerraBid, a certified dealer auction platform that filters only quality EVs into the market while also offering financing, extended warranties, and assured buyback options. The startup says it has already engaged with leading EV OEMs, banks, NBFCs, insurers, and dealer networks to validate its AI-backed diagnostic and scoring approach and demonstrate the TruEV Score in action. Initially focusing on Delhi NCR, TrusTerra plans to expand to key EV hubs such as Bengaluru, Pune, and Hyderabad. The platform will serve both B2C customers (individual owners and buyers, including gig workers) and B2B clients (fleets, dealers, banks, and leasing companies). Over the next 3–5 years, the platform aims to facilitate 1 million pre-loved EV transactions, while targeting a Rs 500 crore market cap within its first two years of operations.

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

EntrackrEntrackr · 2d 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.

NXP CTO Lars Reger explains why Indian EVs were blowing up

IndianStartupNewsIndianStartupNews · 1y ago
NXP CTO Lars Reger explains why Indian EVs were blowing up
Medial

Lars Reger, CTO at NXP Semiconductors, warns that the use of cheap laptop chips in battery management systems (BMS) is causing electric vehicle (EV) fires in India. Reger highlights that consumer electronics solutions are being adapted to complex BMS, leading to repeated failures. The affordability-focused Indian EV market has been opting for cheaper components, compromising safety. Reger emphasises the importance of using automotive-grade components that meet safety standards. The industry is pushing for collaboration to establish guidelines and quality benchmarks for EV components. While facing challenges, the Indian EV ecosystem continues to grow, with increased sales and government support.

Elon Musk wants to sell more Teslas in Japan. Here's why that could be tricky.

Business InsiderBusiness Insider · 1y ago
Elon Musk wants to sell more Teslas in Japan. Here's why that could be tricky.
Medial

Tesla CEO Elon Musk is looking to improve the company's sales in Japan, but the country has been slow to adopt electric vehicles (EVs). Despite Musk's prediction that Japan would become Tesla's largest market outside of the US, the EV maker is struggling to gain market share in Japan. This is not unique to Tesla, as all EV makers are facing challenges in making an impact in the Japanese market. Hybrids have dominated the Japanese market, and leaders in the industry have been hesitant to embrace battery-powered alternatives. This has also hindered the development of charging infrastructure in the country. Japanese carmakers, including Toyota and Honda, have plans to increase their EV efforts in the coming years.

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