B2B mobility startup Terra raises pre-seed investment from angel investors
The new capital will help Terra expand business across the Middle East and globally.
B2B micro-mobility tech startup has raised an undisclosed amount of pre-seed investment from Saudi Arabian, American, and British angel investors. The UAE-based startup is planning to introduce its fleet of electric motorbikes with a swap-and-drive operations model in the region, said a statement by the company.
Founded in 2021 by serial entrepreneur Husam Zammar, Terra is backed by Dubai International Financial Centre. It provides electric motorbikes to businesses, especially those in the delivery sector.
Terra aims to help companies decrease their carbon footprint with reduced carbon dioxide emissions, improved time efficiency, cost reduction, driver tracking, and operational efficiency.
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Along with corporate bike rentals, Terra said it will set up smart swapping stations across the UAE. Drivers will be able to use the platform's mobile application to book and switch bike batteries.
Terra said it chose the UAE as its inaugural location as the country has become a hub for innovation and strategic and forward-thinking leadership.
The company plans to build an electric ecosystem that will connect communities and empower electric mobility across the UAE. It plans to expand across the Middle East and globally as part of its growth strategy.
Edited by Megha Reddy