Euler Motors Raises INR 638 Cr in Series D Funding Led by Hero MotoCorp
Electric commercial vehicle startup Euler Motors has raised INR 638 crore (USD 74.6 million) in Series D funding led by Hero MotoCorp to expand operations and develop new EV products, bringing its total funding to INR 1,420 crore.
May 20, 2025. By News Bureau
The investment comes at a time when Euler Motors is rapidly scaling its operations and strengthening its leadership in the commercial EV segment.
The company will use the funds to expand sales and service networks and develop new commercial EV products. This round brings Euler Motors’ total funding to around INR 1,420 crore (USD166.2 million) till now.
“We are excited to welcome Hero MotoCorp as a strategic investor in Euler Motors. This is a strong vote of confidence both in India’s commercial electric mobility future and in Euler Motors’ execution and products. With this fresh capital and strategic backing from new & existing investors, we are poised to accelerate our scale, continue innovating to deliver superior products, and come a few steps closer towards becoming India’s No. 1 commercial EV brand,” said Founder & CEO, Euler Motors, Saurav Kumar.
“The strategic investment in Euler reinforces our commitment to accelerated growth through both organic and inorganic expansion, while highlighting the power of collaboration and adaptability in an ever-evolving market. As a global automotive leader, Hero MotoCorp is driven by sustainability, innovation and customer-centric progress. As we strengthen and diversify our presence in the emerging mobility landscape, this investment allows Hero MotoCorp to venture into a rapidly growing electric three and four-wheeler market, while unlocking adjacent business opportunities and continuing to cement its leadership in the future of sustainable mobility,” said Executive Chairman, Hero MotoCorp, Dr Pawan Munjal.
Some of the key investors at Euler Motors include Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives India Access Fund. Hero MotoCorp’s investment signals its entry into the electric three- and four-wheeler segment.
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