Euler Motors Bags Rs 200 Cr In Series C Round
In FY24, the company sold 3,700 vehicles and expanded its presence from 5 to 22 cities. As of now, Euler Motors has raised a total of Rs 770 crore
Electric commercial vehicle manufacturer Euler Motors closed its Series C funding round, raising Rs 200 crore from internal investors like British International Investment, Blume Venture and new investor Piramal Alternatives India Access Fund.
The company has now raised a total of Rs 570 crore in Series C funding. According to the company, this capital will be used to expand its presence in over 40 cities by FY25, drive product development, introduce new variants, enhance technological capabilities and accelerate R&D efforts.
In FY24, the company sold 3,700 vehicles and expanded its presence from 5 to 22 cities. Euler Motors has raised a total of Rs 770 crore, competing with Altigreen, Mahindra Electric, Piaggio, Kinetic Green and Tata in the electric three-wheeler space.
