The Series A funding round was co-led by global venture capital firms B Capital and Quona Capital with participation from existing investors Stellaris Venture Partners and Avaana Capital and new investors Alteria Capital and InnoVen Capital, the company said in a statement.
PTI
February 09, 2023 / 02:29 PM IST
(Photo by Chung Sung-Jun/Getty Images)
Commercial electric vehicle distribution and financing platform Turno on Thursday said it has raised USD 13.8 million (around Rs 112 crore) in a funding round to build a proprietary battery-tech platform.
The Series A funding round was co-led by global venture capital firms B Capital and Quona Capital with participation from existing investors Stellaris Venture Partners and Avaana Capital and new investors Alteria Capital and InnoVen Capital, the company said in a statement.
Turno said it plans to use the funding to build a proprietary battery-tech platform to address issues around end-of-life battery value, amid global concerns around EV batteries and e-waste.
Founded by Zoomcar’s former CXOs — Hemanth Aluru and Sudhindra Reddy — in January last year, Turno is currently operational in five states (Karnataka, Telangana, Tamil Nadu, Delhi NCR, and Maharashtra), covering major markets in the South, West, and North of India.
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