Euler Motors has raised about INR 172 crore in debt funding from Zurich-based responsAbility Investments AG, a prominent impact asset manager specialising in private market investments. The new investment will enable Euler Motors to scale production capacity, expand its distribution network, and enhance research and development for advanced EV solutions tailored to India’s logistics and e-commerce sectors. The Storm EV, designed specifically for commercial clients, represents a significant step in electrifying India's transportation industry.
Saurav Kumar, Founder and CEO of Euler Motors, stated “The trust shown by responsAbility and our existing investors highlights the growing confidence in our vision to lead India’s electric commercial vehicle market. This investment will help us scale operations, expand reach, and deliver high-performance, sustainable solutions for India’s unique logistics needs.”
responsAbility recognised Euler Motors’ role in advancing green mobility. Sameer Tirkar, Head of Climate Infrastructure Investments, APAC, at responsAbility, added “Euler Motors’ focus on innovation and sustainable transportation aligns perfectly with our vision for climate action in India’s mobility landscape. This partnership is an impactful step towards a cleaner and more efficient future.”
Euler Motors plans to utilise the funding to develop next-generation EV technology. The company also aims to enhance vehicle efficiency and expand its after-sales service network to promote EV adoption across tier-1 and tier-2 cities. The funding follows Euler Motors’ recent INR 200 crore Series C investment round, backed by British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund.
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