UAE-based electric mobility firm Terra announced it secured USD 2 million in funding to expand its fleet and enhance its services within the last-mile delivery sector, according to a statement.
The tech startup, specializing in providing electric motorbikes to corporations, announced that a group of angel investors contributed to this recent capital infusion.
Established in 2021, Terra recently introduced its inaugural fleet of electric motorbikes following a pre-seed round. In addition to offering a fleet of electric vehicles, the company operates a cutting-edge battery-swapping and recharging platform, allowing last-mile delivery riders to efficiently exchange batteries.
The freshly acquired funding will support upgrades to Terra’s electric motorbikes and further development of the battery-swapping concept.
The startup also disclosed plans to procure its next set of electric motorbikes.
Husam Zammar, Founder and Managing Director of Terra, expressed optimism about the future, stating, “Completing our seed round indicates a tremendous opportunity and potential growth in building a sustainable solution for last-mile delivery in the region.”
This signals Terra’s commitment to advancing eco-friendly mobility solutions and contributing to the evolution of last-mile delivery services.
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