Companies

EV startup Turno raises $3.1 million in seed funding round

BL Bengaluru Bureau | Updated on: Jun 29, 2022
Turno Team

Turno Team

Intending to be the largest EV seller, the company to expand its operations across the country

Turno, a commercial EV startup, has raised $3.1 million in seed funding round. The investment was led by Stellaris Venture Partners, along with Avaana Capital.

The startup said that it  has doubled its sales volumes every month since its inception. Over the next one to two months, the company plans to launch its operations in Maharashtra, Tamil Nadu, Andhra Pradesh, Telangana, Gujarat, and National Capital Region (NCR). Turno has an employee headcount of 60 people. 

Hemanth Aluru, Co-Founder and Chief Executive Officer, Turno, said, “at Turno, we envision the future of Indian transportation to be completely electric with zero dependence on fossil fuels. Today, commercial vehicles constitute about 80-85 per cent of the total fuel consumption, and our mission is to replace all diesel miles in commercial vehicles with electric miles.”

Turno intends to be the country’s largest seller of electric vehicles by August 2022. Launched in April 2022 in Bengaluru, Turno’s model enables the retail segment - individuals and SMEs - which constitute 90 per cent of commercial vehicles in India, to switch to electric cars. 

Arpit Maheshwari, Stellaris Venture Partners, said, “Turno has captured significant market share and enabled many small fleet owners to go electric. We are excited to partner with them, and are confident Turno will catalyze the move to electric for many more people in the years to come.”

The company’s customers come from a diverse use case mix, including small Fast Moving Consumer Goods (FMCG) distributors, vegetable & fruit sellers, manufacturing units, garment distributors, and water can help suppliers.

As part of its customer offering, Turno has launched a beta version of its customer app, which provides instant feedback to customers on how their battery is performing and actively suggests changes in their vehicle usage behavior to extend the battery life. 

Published on June 29, 2022
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