Euler Motors Raises ₹638 Crore in Series D Round Led by Hero MotoCorp

Euler Motors has secured ₹638 crore in a Series D funding round spearheaded by Hero MotoCorp, with continued backing from British International Investment and existing investors Blume Ventures, Athera Partners, Asian Development Bank Ventures, and Piramal Alternatives.

The fresh capital will fuel the rapid expansion of Euler’s national sales and service network while accelerating development of new electric three- and four-wheeler models tailored for Indian conditions.

Known for its HiLoad EV cargo three-wheeler and the StormEV light commercial four-wheeler equipped with advanced driver-assistance systems (ADAS), Euler plans to scale both production and R&D capabilities across its product lineup. With Hero MotoCorp’s entry as a strategic investor, Euler gains not only capital but also industry expertise to strengthen its position in the commercial EV sector.

This partnership underscores growing confidence in India’s transition to sustainable mobility and marks Hero’s first move into electric three- and four-wheelers. Euler Motors aims to leverage this funding to double its city presence—from 40 to over 80 cities—in the next 12–15 months and target profitability by 2029.

The company’s leadership says the round lays the foundation for robust growth and innovation in India’s electric commercial vehicle market.