[Funding roundup] Startups Mekr, Turno raise early-stage investments

YourStory presents daily funding roundups from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, June 29, 2022.

[Funding roundup] Startups Mekr, Turno raise early-stage investments

Wednesday June 29, 2022,

2 min Read

Lemme Be raises Rs 13.5 Cr Multiply Ventures, Anicut Capital, others

Femtech startup Lemme Be raised Rs 13.5 crore in a pre-Series A round from Multiply Ventures, Wami Capital, Sattva Family office, Anicut Capital, and Grip Investment.

The round saw a mix of debt and equity; while Rs 11.5 crore was raised in equity, the remaining Rs 2 crore was debt.

The Hyderabad-based startup will use the funds to develop new products, increase marketing activities, create faster delivery channels, and improve its retail presence. It also plans on expanding to Dubai, the US, and Australia.

Mekr raises Rs 5.8 Cr from Titan Capital, Better Capital

Electronic product manufacturer Mekr raised Rs 5.8 crore in a seed round from early-stage VC firms Titan Capital and Better Capital. The round also saw participation from 2AM VC.

The startup will use the funds to enhance its technology, supply chain, sales, and project management team, among other things.

Founded in January 2022 by Gaurang Kuchhal, a BTech graduate from Delhi Technology University, and Anand Yadav, a former analyst at Oyo, Mekr manufactures electronic products as per a company's requirements.


Gurang Kuchhal (left) and Anand Yadav (right) are second-time entrepreneurs

EV firm Turno raises $3.1M from Stellaris Venture Partners, Avaana Capital

Electric vehicle (EV) startup Turno raised $3.1 million led by Bengaluru-based Stellaris Venture Partners and Avaana Capital.

Operating in stealth mode since April 2022, Turno works in the retail cargo sector, converting commercial vehicles to electric vehicles. The startup works with other electric mobility players, including Omega Seiki Mobility, Piaggio, and Mahindra.

"Our mission is to replace all diesel miles in commercial vehicles with electric miles. We are excited to have investors, who are among the few to understand the nuances of EV investments," Hemanth Aluru, Co-founder and CEO, Turno, said in a statement.

The startup plans to expand across Maharashtra, Tamil Nadu, Telangana, Gujarat, Andhra Pradesh, and the National Capital Region (NCR) in the next couple of months.

Edited by Suman Singh