Euler Motors has announced the successful closure of its Series D funding round, raising INR 638 crore. The round was led by Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, with continued support from existing investor British International Investment (BII), the UK’s development finance institution.
Other key investors in the company include Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund. With this latest round, Euler Motors’ total funding has reached approximately INR 1,420 crore.
Welcoming the investment, Saurav Kumar, Founder and CEO, Euler Motors, said, “Hero MotoCorp’s entry as a strategic investor is a strong endorsement of our product leadership and vision for sustainable commercial mobility. This funding allows us to deepen our innovation efforts, scale rapidly, and move closer to becoming India’s top commercial EV brand.”
Dr Pawan Munjal, Executive Chairman, Hero MotoCorp, said, “Our investment in Euler Motors aligns with Hero’s broader strategy to drive growth via both organic and inorganic routes. It enables us to participate in India’s expanding electric three- and four-wheeler market and reinforces our commitment to sustainability and future mobility solutions.”
Abhinav Sinha, Managing Director at BII, highlighted Euler’s role in enabling scalable climate and employment impact. “Since our initial investment in 2023, Euler has contributed meaningfully to India’s EV transition and green job creation,” he noted.
Euler Motors has been gaining traction in the e-commerce, retail, and logistics segments with high-performance vehicles like the HiLoad EV—India’s most powerful electric three-wheeler—and the recently launched StormEV, the country’s first ADAS-equipped light commercial four-wheeler.
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