Electric vehicle manufacturer Euler Motors announced that it has raised an additional Rs. 200 crore in the series C funding round.
Existing investors like British International Investment, Blume Venture, and new investors such as Piramal Alternatives India Access Fund led this round’s fresh infusion of funds, the company stated in a statement.
In total, the company has raised around Rs. 570 crore from investors in series C funding round.
“This fresh capital injection, coupled with the trust of our investors, will propel us towards our goal of double digit market share. With this momentum, we’re ready to accelerate our growth trajectory and lead the transition to commercial EVs in India,” stated Saurav Kumar, founder and CEO of Euler Motors.
The company added that their latest infusion of capital shall be utilised to expand their presence on pan- India level as they have set target to establish presence in over 40 cities by FY25.
