Turno Raises $6M in Funding to Expand Commercial EV Business
Turno Raises $6M in Series-A Extension Funding
Turno's Series-A Extension Funding
Key Highlights:
- Series-A Extension Funding: Raised $6 million in Series-A extension funding, bringing the total funding amount to $22.9 million.
- Investors: Funding led by British International Investment (BII), Quona Capital, Stellaris Venture Partners, and B Capital.
- Business Expansion: Funds will be used to accelerate existing business growth and launch new business lines to enhance access and infrastructure for commercial electric vehicles (EVs).
Turno's Target Market
- Target Market: Individuals and small businesses looking to shift to electric vehicles (EVs) with lower ownership costs.
- Commercial EV Market: Focus on the commercial electric vehicle market, providing solutions for businesses in need of EVs for their operations.
- EV Financing: Offering financing options to make EV ownership more accessible and affordable for customers.
What Turno Needs to Buy
- EV Inventory: Expanding the range of electric vehicles available for distribution and financing.
- Infrastructure Development: Investing in the development of charging infrastructure and other EV-related infrastructure to support the growth of the commercial EV market.
- Partnerships and Collaborations: Collaborating with manufacturers, dealerships, and other stakeholders in the EV industry to strengthen their distribution and financing capabilities.