$2 million for e-mobility start-up Terra to enhance last-mile delivery

🔋 Here’s Terra! The UAE-based e-mobility company providing an electric vehicle lineup and battery-swapping/recharging network to facilitate efficient last-mile delivery and promote environmental sustainability.

Did we mention they just raised $2 million in their seed funding round?

• Established in 2021 by Husam Zammar, Terra launched its first fleet of electric motorbikes earlier this year, shortly after the completion of its pre-Seed round.

💰 Investor lowdown: This funding round was backed by a group of strategic angel investors. 

• A series A funding round is on the cards for the first half of 2024. 

🌍 The e-commerce surge

The rapid rise of e-commerce means more delivery vehicles and, unfortunately, more emissions. 

The World Economic Forum estimates a 36% increase in delivery traffic by 2030. This surge poses a risk of escalating carbon emissions and worsening urban air quality. 

🛵 Terra's smart solutions

Terra’s zero-emission EVs are specifically designed for last-mile delivery, with continually enhanced performance and efficiency to meet the sector's evolving demands.

The innovation? Its battery-swapping technology that enables riders to swiftly exchange batteries at its network stations, thus reducing EV charging downtime and improving delivery efficiency

• They state that they’ve already established MENA’s inaugural swapping station.
• The plan is to expand this network across the UAE, ensuring accessibility and convenience for all users.

To further streamline the delivery process, they’re also enhancing their rider mobile app and operator cloud-fleet management dashboard.

It’ll offer real-time data on battery levels, swapping stations, and route optimisation, along with comprehensive insights for fleet managers on performance and environmental impact.

🔮 Flashforward

Terra will use this funding to source its next batch of electric motorbikes, enhance battery technology and secure patents for their unique designs and processes. 

By 2030, they’re aiming to replace 50% of existing two and three-wheelers with their bikes.