Euler Motors Secures Rs 638 Crore in Series D Funding, Targets Electric Mobility Expansion

Euler Motors, an electric commercial vehicle startup, announced on Monday that it has successfully raised Rs 638 crore in a Series D funding round, spearheaded by Hero MotoCorp. Existing investor British International Investment (BII), the UK's development finance institution, also participated in the round, according to a company statement.

This latest financial boost brings Euler Motors' total capital raised to roughly Rs 1,420 crore across multiple funding rounds. The infusion of fresh capital will be directed towards expanding the company's sales and service network while advancing new product development initiatives.

Euler Motors has reported strong adoption in sectors such as e-commerce, retail, and logistics, supported by a growing product portfolio that includes the electric three-wheeler HiLoad EV and the newly-launched four-wheeler LCV StormEV. With the strategic investment from Hero MotoCorp, the company is poised to enhance its presence in India's emerging electric mobility landscape.

(With inputs from agencies.)