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Euler Motors Secures INR 437.5 Crore in Series E Round Led by Lightrock

Euler Motors has raised Rs437.5 crore in a Series E funding round led by Lightrock, as the electric commercial vehicle manufacturer looks to accelerate its growth and expand its presence across India.

The funding round also saw participation from existing investors, including Hero MotoCorp and Blume Ventures. In addition to equity funding, the company secured around Rs250 crore in debt financing from BlackSoil, Trifecta Capital, InnoVen Capital, and Alteria Capital.

The fresh capital will be utilized to enhance manufacturing capacity, expand the company’s network, and strengthen core operational capabilities. This comes at a crucial stage as Euler transitions from early scale-up to a more mature growth phase.

The company emphasized its focus on the commercial EV segment, particularly in areas where uptime, reliability, and cost efficiency are critical. It aims to continue investing strategically to capture opportunities in last-mile logistics and fleet operations.

Founded in 2018, Euler Motors specializes in designing and manufacturing electric commercial vehicles tailored for India’s logistics ecosystem. The company has established a strong presence in both three-wheeler and four-wheeler cargo EV segments, catering to e-commerce and fleet operators.

Euler Motors has expanded its footprint to around 100 touchpoints nationwide and holds a significant share in the four-wheel cargo EV segment. With this latest round, the company’s total funding has reached approximately Rs1,900 crore.

The investment marks a significant milestone, reinforcing investor confidence in Euler Motors’ business model, execution capabilities, and its role in advancing India’s electric mobility transition.