UAE-based electric mobility company Terra has raised $2 million to expand its fleet and further boost its offering in the last-mile delivery sector.
The tech start-up, which provides electric motorbikes to corporations, raised the fresh capital from a group of angel investors, it said in a statement on Friday.
Established in 2021, the company recently launched its first fleet of electric motorbikes shortly after a pre-Seed round. Besides a fleet of electric vehicles, Terra operates a battery-swapping and recharging platform, enabling riders doing last-mile deliveries to exchange batteries.
“Upgrades to Terra’s electric motorbikes and battery-swapping concept … will be supported by the recent funding,” the start-up said. It added that the company also plans to source its next batch of electric motorbikes.
“Completing our seed round indicates a tremendous opportunity and potential growth in building a sustainable solution for last-mile delivery in the region,” said Husam Zammar, Founder and Managing Director of Terra.
