Commercial Ev Financing Startup Turno Raises $13.8 Million In Funding Led By B Capital, Quona Capital
Amount Raised
$13.8 Million
Round Type
Funding Round
BengaluruTransportationDescription
Commercial electric vehicle (EV) distribution and financing platform Turno has raised $13.8 million (about Rs 112 crore) in funding led by venture capital firms B Capital and Quona Capital. Existing investors Stellaris Venture Partners and Avaana Capital participated in the funding round, which also brought on board new investors Alteria Capital and InnoVen Capital.The company, which claims to have a 20% market share in its segment, plans to utilise the funds to expand operations and build a proprietary battery tech platform to address issues around end-of-life battery value amid global concerns around EV batteries and e-waste.“Today, 80-85% of India’s automotive fuel consumption is driven by commercial vehicles with internal combustion engines,” said Turno chief executive officer Hemanth Aluru. “Yet, there is a strong desire to transition to a green economy and so, commercial EV adoption holds a significant promise. Turno was founded with the mission to convert these ‘gasoline miles’ into ‘electric miles’, having a significant positive impact on the environment.”Turno aims to use its proprietary technology to repurpose EV batteries into large-scale second-life energy storage systems
Quick answer
Turno raised $13.8 Million in a Funding Round round, dated February 9, 2023. Turno is based in Bengaluru, Karnataka, India.
- How much did Turno raise?
- Turno raised $13.8 Million in a Funding Round round on February 9, 2023.
- What does Turno do?
- Turno (Brand of Blubble pvt ltd) is an Electric Vehicle company, that helps operators of commercial vehicles to switch to EVs.
- Where is Turno based and how big is it?
- Turno is based in Bengaluru, Karnataka, India.
- Who are the decision-makers at Turno?
- Fundz holds 2 contacts at Turno, including the Head of Digital Marketing. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Transportation around the same time
Companies in the same sectors as Turno that raised within 45 days of this round, from Fundz verified event records.
- ZoomCar raised $8.1M on March 23, 2023.
- Regent Craft raised an undisclosed amount (Corporate Round) on March 22, 2023.
- Revolv raised $15M (Funding Round) on March 21, 2023.
- G2Mint raised $1M (Seed) on March 10, 2023.
- itselectric raised $2.2M (Pre-Seed) on March 7, 2023.
- Overhaul raised $73M (Funding Round) on March 7, 2023.
Who to call at Turno, and when
A new round usually means Turno is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Turno raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Turno, from your own LinkedIn network
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Turno raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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