Truboard Partners, an asset performance management platform, has raised Rs 20 crore (approximately $2.2 million) in a funding round led by Earth Fund, a venture capital platform focused on the built environment and sustainability.
The Mumbai-based startup had earlier secured $2.7 million in July 2022. With this latest infusion of capital, the company plans to further strengthen its product foundation and scale the platform in a measured and responsible manner across multiple asset classes, according to a press release.
Founded in 2020 by Srickant Rajagopal, Nandkumar Surti, and Vipul Thakore, Truboard Partners offers AI-powered asset performance management software designed for lenders, equity investors, developers, and asset owners managing both real and financial assets. Its platform delivers a 360-degree view of investment performance, combining portfolio intelligence, risk monitoring, and operational insights to help institutions improve portfolio-level IRRs through data-backed decision-making.
The company says its technology is currently used by investors and operators overseeing complex, multi-asset portfolios across India’s real estate and energy markets. It has also expanded its presence into the US and European markets, widening its international footprint.
Truboard works closely with developers, lenders, and institutional investors, creating what it describes as a common operating layer for portfolio management. This unified layer spans real estate and energy assets and supports both debt and equity structures, enabling stakeholders to operate from a shared, data-driven framework.
Vipul Thakore, Founder and CEO of Truboard Partners, said, “Earth Fund’s investment reflects a shared view that managing asset performance across real assets requires technology designed for the operational realities of these sectors. Our engagement across developers, lenders, and institutional investors supports the development of a common operating layer for portfolio management spanning real estate and energy, across both debt and equity structures.”
Nirupa Shankar, Managing Partner at Earth Fund, said, “Truboard fills a critical gap in India’s real asset ecosystem by bringing structure and transparency to post-investment asset monitoring in real estate and clean energy infrastructure. By turning fragmented data into actionable insights, the platform compresses lender visibility from months to days, helps manage risk, and enables asset owners to generate 2–3% higher returns on assets in a market that has traditionally lacked real-time visibility.”
Abhijeet Pai, Managing Partner at Earth Fund, added, “What attracted us to Truboard was the same pattern we see in category-defining companies—blue-chip clients, measurable ROI delivery, and product sophistication that creates switching costs.”
The investment marks the maiden deployment from Earth Fund, which was recently reported to have attracted backing from institutional investors such as HDFC Capital Advisors Limited, the alternative investment platform of HDFC Bank, as well as listed developers including Nila Spaces.
With this funding, Truboard aims to deepen its technological capabilities while addressing long-standing inefficiencies in post-investment asset monitoring across India’s real asset ecosystem, bringing greater structure, speed, and transparency to the sector.
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