Euler Motors Raises ₹638 Crore in Series D Round, Hero MotoCorp Joins as Key Investor

Electric commercial vehicle startup Euler Motors has raised ₹638 crore in its latest Series D funding round, with Hero MotoCorp joining as a strategic investor. The round also saw continued support from British International Investment (BII), the UK government’s development finance institution.

Euler Motors to Focus on Expansion and Product Development

With the fresh capital, Euler Motors plans to expand its sales and service network across India and fast-track the development of new electric vehicle (EV) models. The funding comes as the demand for electric commercial transport grows rapidly in sectors like e-commerce, retail, and last-mile delivery.

This funding will enable the company to ramp up its operations and bring innovative, high-performance commercial EVs to more Indian businesses.

Hero MotoCorp Eyes EV Expansion

Hero MotoCorp’s investment marks its entry into the electric three- and four-wheeler segment, reflecting its broader strategy to grow within India’s evolving sustainable mobility space.

This investment is part of Hero’s long-term growth plan in the mobility ecosystem. It opens new opportunities for the company in the electric cargo mobility segment. It also aligns with its focus on innovation and sustainability.

Euler Motor’s Product Line and Objective

Founded in 2018 and based in Delhi, Euler Motors has gained recognition for its electric three-wheeler HiLoad EV, built for cargo delivery. More recently, it launched the StormEV, India’s first light commercial four-wheeler with Advanced Driver-Assistance Systems (ADAS).

Euler Motors aims to be a full-stack EV manufacturer, focusing on durable, India-specific vehicles that meet the country’s unique delivery and logistics needs.

Euler Motors is Enjoying Continued Investor Support. 

Euler’s investor list also includes Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives, among others. The company’s total funding has now reached around ₹1,420 crore.

BII, which first invested in Euler in 2023, continues to support the startup to help drive India’s green transition and promote clean transportation solutions.

Conclusion 

Euler Motors’ latest funding is a strong sign of confidence in India’s commercial EV market. With backing from Hero MotoCorp and other investors, the startup is set to grow its footprint and deliver innovative electric vehicles for the country's evolving logistics needs.
 
Read more on: Hero MotoCorp Share Price in Focus; Announced 16% PAT Growth in FY25 Results & ₹165 Dividend. 
 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.