In a move that highlights the growing institutional demand for transparency in the built environment, Truboard Partners has secured ₹20 crore ($2.2 million) in a funding round led by Earth Fund. This investment marks the maiden deployment from Earth Fund a sustainability-focused venture platform backed by industry heavyweights like the Brigade Group, Gruhas, and HDFC Capital.
Founded in 2020 by veterans Vipul Thakore (former MD at Goldman Sachs), Nandkumar Surti (former CEO at JP Morgan Mutual Fund), and Srickant Rajagopal (formerly with Piramal Group), Truboard is solving a multi-billion dollar headache: the “post-investment visibility gap.” While millions are poured into real estate and renewable energy, monitoring those assets often remains stuck in the era of fragmented spreadsheets and delayed reporting.
The “Common Operating Layer” for Real Assets
Truboard’s AI-driven platform acts as a digital nervous system for complex portfolios. It provides a 360-degree view of investment performance, risk management, and operational efficiency, serving a diverse clientele of developers, lenders, and institutional investors.
By integrating data directly from source systems, the platform compresses the timeline for lender visibility from months to just a few days. For asset owners, the results are even more tangible: the platform typically enables a 2–3% increase in returns by identifying operational leakages in real-time.
A Modular Ecosystem: From Real Estate to Green Energy
The platform is built around specialized modules designed to handle the unique operational realities of different asset classes:
| Product Platform | Target Sector | Key Features |
| TruGenie | Real Estate | Manages under-construction projects, construction cashflows, and NOC workflows. |
| TruGreen | Renewables | Handles technical O&M, compliance, and “kWh-to-Cash” reporting for solar and wind. |
| TruCollect | Retail Finance | Uses AI-powered analytics to manage retail loan portfolios and stressed account resolution. |
The “Earth Fund” Thesis: Why Now?
The investment from Earth Fund is a strategic nod to Truboard’s role in the global energy transition and urban development. As India pushes toward Net Zero, the complexity of managing clean energy infrastructure and green buildings is skyrocketing.
“Truboard fills a critical gap by bringing structure to post-investment asset monitoring,” noted Nirupa Shankar, Managing Partner at Earth Fund. “By turning fragmented data into actionable insights, they help manage risk in a market that has traditionally lacked real-time visibility.”
Global Ambitions: India to the World
With this fresh infusion of capital, Truboard plans to strengthen its AI frameworks and scale its operations across its recent expansions into the US and EU markets. Currently managing assets worth over $1.8 billion including 1 GW of renewables and 700 km of road assets the company is positioning itself as a global leader in “PhyGital” asset management (the intersection of physical assets and digital intelligence).
Vipul Thakore, Co-founder and CEO, emphasized that the partnership reflects a shared vision: “Managing real assets requires technology designed for operational realities. This partnership enables us to strengthen our foundation and scale responsibly.”
By: Vanshika Tayal
