- Terra has raised $2 million in seed funding to expand its electric vehicle and battery-swapping solution for last-mile delivery in the UAE. The company provides corporations with a fleet of electric motorbikes, swappable batteries, and charging stations.
- Terra plans to use the funding to upgrade its technology, source new vehicles, patent designs and processes, and establish organizational alignment as it enters revenue generation.
- After achieving numerous milestones in early 2023, Terra now aims to strengthen partnerships and prepare for Series A funding as it focuses on sustainable last-mile delivery solutions.
Dubai-based startup Terra has closed a $2 million seed funding round to expand its electric vehicle and battery swapping solutions for last-mile deliveries in the UAE. The pioneer in the MENA region’s electric vehicle industry plans to utilize the investment to enhance its offerings and strengthen partnerships ahead of a Series A funding round next year.
Terra provides corporations with an integrated e-mobility platform encompassing a fleet of electric motorbikes, swappable batteries, and charging stations optimized for sustainable last-mile delivery. Riders can conveniently exchange depleted batteries for fully charged ones at Terra’s network of swapping stations across the UAE.
The funding will allow Terra to upgrade its motorbikes and swapping technology per evolving market demands. Additionally, Terra aims to source new electric motorbikes, patent its unique designs and processes, and establish an organizational structure to streamline communication and strategic alignment.
On the software side, Terra plans improvements to its mobile app for riders and cloud-based fleet dashboard for operators to ensure seamless experiences. Enhancing customer relationships and forging new connections with stakeholders comprise the startup’s strategic goals as it enters its revenue generation cycle.
“Completing our seed round validates the tremendous opportunity for sustainable last-mile delivery solutions in the region,” said Founder and Managing Director Husam Zammar. “We now shift focus to long-term partnerships to scale our proprietary assets and business for improved product and service delivery in the UAE.”
Terra is currently planning for a Series A funding round in early 2024 to partner with venture capital firms and leverage its existing investor relationships. After securing pre-seed investment in early 2023, Terra has accomplished numerous milestones, including:
- Launching its first electric motorbike fleet and extensive testing with clients
- Obtaining legal certifications and approvals to operate regionally
- Issuing its first vehicle license plate
- Finalizing bike registrations and mobile app rollout
- Recruiting 30+ employees
With seed funding secured amid these operational achievements, Terra is strategically poised to advance its mission of enabling sustainable last-mile delivery across the MENA region.
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Last Updated on December 14, 2023 by Safiya K
