Commercial electric vehicle startup Turno has raised $3.1 million in funding led by Stellaris Venture Partners and Avaana Capital. Angel investors such as BigBasket’s Vipul Parekh, Urban Ladder’s Ashish Goel, and the Goenka Family Office were the other participants.
Launched two months ago in Bengaluru, Turno operates in the retail cargo three-wheeler (3W) segment and claims to have already captured 75% of the market share. It has partnered with leading 3W electric original equipment manufacturers (OEMs) such as Mahindra, Piaggio, and Etrio, among others.
