Euler Motors, a frontrunner in India’s electric commercial vehicle space, has successfully closed its Series D funding round, securing a substantial ₹638 crore. The round was led by two-wheeler giant Hero MotoCorp, marking its strategic foray into the electric three- and four-wheeler segment. Existing investor British International Investment (BII), the UK’s development finance institution, also participated in the funding.
The fresh capital is set to fuel Euler Motors’ expansion of its sales and service infrastructure, and expedite development of next-generation electric vehicles tailored for India’s growing logistics and commercial transportation sectors.
Strategic Backing Signals Industry Shift
“This is a strong vote of confidence in both India’s commercial electric mobility future and in Euler Motors’ execution and products,” said Saurav Kumar, Founder & CEO of Euler Motors. “With Hero MotoCorp on board and continued support from BII, we’re ready to scale aggressively, innovate further, and move closer to becoming India’s No. 1 commercial EV brand.”
Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp, emphasized the significance of the collaboration. “Our investment in Euler underscores Hero’s commitment to sustainable mobility and innovation. This strategic move enables us to diversify into the fast-growing electric three- and four-wheeler space, unlocking new growth avenues in the evolving mobility landscape,” he said.
Driving EV Adoption Through Innovation
Euler Motors has made waves with its high-performance electric vehicles like the HiLoad EV—India’s most powerful electric three-wheeler—and StormEV, the country’s first light commercial vehicle with ADAS (Advanced Driver Assistance Systems) features. These vehicles have gained strong traction across e-commerce, retail, and logistics sectors.
British International Investment, which first invested in Euler Motors in 2023, reaffirmed its support for the company’s mission. “Euler Motors has played a key role in advancing India’s EV adoption and creating quality jobs,” said Abhinav Sinha, Managing Director at BII. “This investment aligns with our goal to drive sustainable industrial growth and support India’s net-zero ambitions.”
A Growing List of Strategic Investors
Euler Motors’ investor base now includes major names such as Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund. With the latest Series D infusion, the company has raised approximately ₹1,420 crore to date.
As India’s EV ecosystem rapidly evolves, this funding milestone places Euler Motors in a strong position to lead the next wave of sustainable mobility in the commercial sector.
