This is the first of its kind funding in the EV space during the covid-19 period, and will help the company to expedite its product and technology as well as scale its network of charging and service stations across India Euler Motors, the automotive technology start-up focused on commercial Electric Vehicles (EVs) said that it has raised INR 20 crore as a part of its ongoing Series A funding led by Inventus Capital India.
The other investors in this round include Blume Ventures, Singapore based Jetty Ventures India Investments, and Udaan’s co-founder Sujeet Kumar.
The funds will be used to launch its commercial EVs in key regions of the country and develop infrastructure for the smooth adoption of EVs, the company said in a statement.