What is Turno?
Founded in 2022 and based in Karnataka, India, Turno operates within the fintech space, specifically targeting the financing needs of commercial electric vehicle owners. The company's establishment in a rapidly evolving market indicates a strategic focus on addressing the financial barriers to EV adoption for businesses and fleet operators. This positions Turno at the intersection of two high-growth sectors: fintech and sustainable transportation.
How much funding has Turno raised?
Turno has raised a total of $22.9M across 3 funding rounds:
Unspecified
$3.1M
Series A
$13.8M
Series A
$6M
Unspecified (2022): $3.1M, investors not publicly disclosed
Series A (2023): $13.8M led by Quona Capital, Avaana Capital, B Capital Group, Alteria Capital, Innoven Capital, and Stellaris Venture Partners
Series A (2024): $6M supported by Stellaris Venture Partners, British International Investment, Quona Capital, and B Capital Group
Key Investors in Turno
Stellaris Venture Partners
Stellaris Venture Partners is an early-stage, technology-focused investment firm that is sector-agnostic. They are committed to supporting founders in building resilient businesses from the ideation stage to revenue milestones. The firm invests in various themes including fintech, consumer tech, AI, and sustainability, with a strong emphasis on collaboration and hands-on support for their portfolio companies.
British International Investment
British International Investment is the development finance institution of the UK government, focused on investing in businesses in emerging markets to support sustainable economic development.
Quona Capital
Quona Capital is a venture firm focused on fintech for inclusion in emerging markets, partnering with entrepreneurs to drive financial innovation and access for underserved consumers and small businesses.
What's next for Turno?
The recent major strategic investment signifies a crucial phase for Turno, likely enabling the company to scale its operations, expand its product offerings, and further penetrate the Indian market. This capital infusion is expected to fuel technological advancements in its fintech platform and strengthen its position as a key player in financing the transition to electric mobility for commercial fleets. The company's Series A funding rounds suggest a move towards scaling operations and solidifying its market presence.
See full Turno company page
