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					</table><p><a href="https://www.turno.club/" target="_blank" rel="noopener">Turno</a>, a Bengaluru-based commercial electric vehicle (EV) distribution and financing platform, has raised $13.8 million in series A funding which would be used to build proprietary battery technology and scale across the country.</p>
<p>The 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.</p>
<p>The company plans to use the funding for a proprietary battery tech platform to address issues around end-of-life battery value, amid concerns around EV batteries and e-waste globally.</p>
<p>“There is a strong desire to transition to a green economy and so, commercial EV adoption holds significant promise. Turno was founded with the mission to convert these “gasoline miles” into “electric miles”, having a significant positive impact on the environment” Hemanth Aluru, Co-Founder &amp; CEO of Turno, said.</p>
<p>Turno offers a multi-brand selection of vehicles at low prices both online and in physical stores, with low-cost financing and a buy-back value on used batteries backed by its proprietary battery technology.</p>
<p>It promises an average 25- 30% higher buyback than the market. The company’s flagship offering claims to lower the overall ownership costs for customers by 30% when compared to other EV purchasing options.</p>
<p>The company said it has captured approximately 20% market share in India.</p>
<p>It has identified an opportunity to create a battery technology platform to repurpose EV batteries into large-scale second-life energy storage systems.</p>
<p>This enhances both the life-cycle value of batteries and prolongs their usable life avoiding impending environmental disasters such as dumping used batteries in landfills and creating toxic e-waste.</p>
<p>The new technology can lead to lower EV ownership costs, thereby making EVs more affordable and accessible to the masses.</p>
<p>Founded in January 2022, the company is currently operational in Karnataka, Telangana, Tamil Nadu, Delhi NCR, and Maharashtra.</p>
<p>The company has forged national-level partnerships with 3-wheeler electric vehicle manufacturers, including Mahindra &amp; Mahindra, Piaggio, Omega Seiki Mobility, and Etrio, to sell their vehicles countrywide.</p>
<p>They recently announced key personnel appointments across battery technology, brand, growth, and operations.</p>
<p>In July 2022 the startup <a href="https://mercomindia.com/turno-raises-3-1-million-enhance-battery-life-cycle/" target="_blank" rel="noopener">raised</a> $3.1 million in an equity funding round led by Stellaris Venture Partners and Avaana Capital.</p>
<p>Recently, the government <a href="https://mercomindia.com/india-aims-at-9-fold-in-public-ev-charging-2030/" target="_blank" rel="noopener">announced</a> it aims to install a total of 46,397 public charging stations for EVs in nine major cities by the end of the decade.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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EV Financing Firm Turno Raises $13.8 Million in Series A Funding


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					</table><p>Electric powertrains technology company <a href="https://www.entuplemobility.com/" target="_blank" rel="noopener">Entuple E-Mobility</a> has raised $3 million in pre-series A funding from <a href="https://www.blueashvacapital.com/" target="_blank" rel="noopener">Blue Ashva Capital</a> and <a href="https://www.capitala.com/" target="_blank" rel="noopener">Capital A, </a>to enhance the company’s research and development (R&amp;D) capabilities for new technologies.</p>
<p>The company said the funding will be used to develop next-generation traction motors and drives for mobility applications, including machine learning and advanced telematics capabilities in its product.</p>
<p>Rakesh Mishra, Founder, and CEO of Entuple E-Mobility said, “We are focused on bringing in technologically superior powertrains across the complete spectrum of mobility applications. We will also be launching a suite of hub-motor and mid-drive motor powertrains over the next three months.</p>
<p>The company said it has developed a product portfolio of 23 variants of integrated motors and controllers that have an energy efficiency of &gt;91% compared to about 70% for products in competition.</p>
<p>It has also launched a series of hub-motor and mid-drive motor powertrains for 2 Wh and 3 Wh applications by leveraging its indigenous powertrain solution stack, the company said.</p>
<p>Satya Bansal, Founder of Blue Ashva Capital said that a huge gap in India’s EV value chain exists currently with a high reliance on low-reliability imports for critical components.</p>
<p>“We believe that the growth of the EV market largely depends on access to technology and supply chain for battery cells and powertrains which account for almost 60% of the cost of the vehicle. Entuple E-Mobility is well positioned to cater to the quality and cost requirements of its clientele,” Bansal said.</p>
<p>The Bengaluru and Thiruvananthapuram-based start-up said that its product development approach is based on four key pillars which include high motor and controller efficiency, reliability for varied drive conditions, smart powertrains enabled with advanced algorithms, and maximization of local sourcing to benefit from the FAME II program.</p>
<p>Recently, another Bengaluru-based electric vehicle (EV) charging aggregation platform ElectricPe <a href="https://mercomindia.com/electricpe-raises-5-million-in-funding/" target="_blank" rel="noopener">closed</a> a pre-series A funding round of $5 million, taking the company’s total capital raised in the last 12 months to $8 million.</p>
<p>The National Highways Authority of India (NHAI) <a href="https://mercomindia.com/ev-charging-stations-powered-by-solar/" target="_blank" rel="noopener">proposed</a> to power electric vehicle (EV) charging stations along highways with solar energy wherever feasible, the Ministry of Road Transport and Highways (MoRTH) said.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Tech Firm Entuple E-Mobility Secures $3 Million in Pre-Series A Funding

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