Terra Tech Raises US$2 Million to Power Up MENA’s Electric Vehicle Landscape

Terra Tech Raises US$2 Million to Power Up MENA’s Electric Vehicle Landscape

Terra, a trailblazer in the EV industry in the MENA region, has successfully closed its seed funding round, raising an impressive US$2 million from a group of strategic angel investors. This significant financial boost marks a crucial milestone for Terra as it propels towards the revenue generation stage, aiming to fortify its physical and technological capabilities. Terra's primary focus lies in providing cutting-edge e-mobility solutions to corporations, offering a unique battery-swapping and recharging platform along with a diverse lineup of electric vehicles. This innovative approach allows riders to seamlessly exchange batteries, optimising last-mile delivery operations and promoting environmental sustainability. The ambitious startup plans to deploy an extensive network of swapping stations across the UAE. The recent injection of funds will facilitate upgrades to Terra's electric motorbikes and battery-swapping concept, incorporating valuable feedback from extensive testing to ensure a product aligned with evolving market needs. Additionally, Terra aims to source its next batch of electric motorbikes and patent its groundbreaking intellectual property, solidifying its position as an industry leader. On the user side, Terra intends to enhance its mobile application for riders and dashboard features for cloud-fleet management operators, providing a seamless experience in the last-mile sector. A well-defined organisational structure