Turno, a Bangalore, India-based EV distribution and financing company, raised $6M in Series-A extension funding.
The round, which brought the total amount to $22.9M, was led by British International Investment (BII), Quona Capital, Stellaris Venture Partners and B Capital.
The company intends to use the funds to accelerate the growth of the existing business and launch new business lines to improve access and the infrastructure of commercial EVs.
Established in early 2022 by Hemanth Aluru and Sudhindra Reddy, Turno is an electric vehicle distribution and financing company that facilitates lower ownership costs for individuals and small businesses to shift to EVs. Its EV sales platform integrates both online and physical stores. At the heart of the company’s offering theire is a proprietary battery technology platform, which gives customers a guaranteed buyback value on used batteries.
FinSMEs
30/05/2024