About Trueno
Trueno is a company based in Mumbai (India) founded in 2020 by Somil Jain.. Trueno has raised $89.07 thousand across 1 funding round from investors including MM Ceramics & Ferro Alloys, Gpr Finance Corp and Narendra Joharimal Goliya. Trueno offers products and services including Trueno App and Electric Scooter. Trueno operates in a competitive market with competitors including Baaz, VA-YU, eleRide, EV4All and ionplus, among others.
- Headquarter Mumbai, India
- Founders Somil Jain
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
- Legal Name Electride Technologies Private Limited
- Date of Incorporation 12 May, 2020
- Jurisdiction Guna, Madhya Pradesh, India
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Annual Revenue
$26.47 K (USD)484.91as on Mar 31, 2022
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Net Profit
$-327.92 (USD)96.31as on Mar 31, 2022
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EBITDA
$4.78 K (USD)161.5as on Mar 31, 2022
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Total Equity Funding
$89.07 K (USD)
in 1 rounds
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Latest Funding Round
$89.07 K (USD), Seed
Apr 26, 2023
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Investors
MM Ceramics & Ferro Alloys
& 6 more
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Employee Count
Employee Count
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Products & Services of Trueno
Trueno offers a comprehensive portfolio of products and services, including Trueno App and Electric Scooter. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for managing electric vehicle subscriptions and real-time tracking.
Eco-friendly scooter for daily commuting with sanitation features.
Funding Insights of Trueno
Trueno has successfully raised a total of $89.07K through 1 strategic funding round. The most recent funding activity was a Seed round of $89.07 thousand completed in April 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $89,066
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First Round
First Round
(26 Apr 2023)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2023 | Amount | Seed - Trueno | Valuation | MM Ceramics & Ferro Alloys , Gpr Finance Corp |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Trueno
Trueno has secured backing from 7 investors, including institutional and angel investors. Prominent investors backing the company include MM Ceramics & Ferro Alloys, Gpr Finance Corp and Narendra Joharimal Goliya. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Founded Year | Domain | Location | |
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NJ
Narendra Joharimal Goliya |
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Founded Year | Domain | Location |
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AB
Ajay Bohora |
Co-founder & CEO of Credila, prominent angel investor in Indian startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Trueno
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Trueno
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Trueno Comparisons
Competitors of Trueno
Trueno operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Baaz, VA-YU, eleRide, EV4All and ionplus, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Platform offering electric scooters for deliveries
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| domain | founded_year | HQ Location |
Operates an online platform for e-scooter rentals, providing convenient urban mobility solutions.
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| domain | founded_year | HQ Location |
Provides electric vehicle rentals and subscriptions for individuals and businesses.
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| domain | founded_year | HQ Location |
An online platform for subscription-based electric two-wheeler rentals.
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| domain | founded_year | HQ Location |
Operates an app-based platform for electric scooter rentals.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Trueno
When was Trueno founded?
Trueno was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Where is Trueno located?
Trueno is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Trueno a funded company?
Trueno is a funded company, having raised a total of $89.07K across 1 funding round to date. The company's 1st funding round was a Seed of $89.07K, raised on Apr 26, 2023.
What is the annual revenue of Trueno?
Annual revenue of Trueno is $26.47K as on Mar 31, 2022.
What does Trueno do?
Trueno was founded in 2020 in Mumbai, India, by Somil Jain. Operations are focused on the electric mobility sector, where an app-based platform is utilized to deliver subscription services for electric scooters. Users are enabled to access scooters on a flexible, recurring basis, supporting urban commuting needs in the region. The service model emphasizes accessibility and sustainability in personal transportation.
What products or services does Trueno offer?
Trueno offers Trueno App and Electric Scooter.
Who are Trueno's investors?
Trueno has 7 investors. Key investors include MM Ceramics & Ferro Alloys, Gpr Finance Corp, Narendra Joharimal Goliya, Ajay Bohora, and Jinal Shah.
What is Trueno's valuation?
The valuation of Trueno is $1.89M as of Apr 2023.