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.