Euler Motors Secures INR 638 Crore in Series D Funding Led by Hero MotoCorp and BII
New Delhi, May 2025 — Electric commercial vehicle manufacturer Euler Motors has successfully raised INR 638 crore in its latest Series D funding round , further strengthening its position in India’s rapidly expanding electric vehicle (EV) market. This round was led by Hero MotoCorp and British International Investment (BII) , signaling strong investor confidence in Euler’s vision and market traction.
This new funding takes the total capital raised by Euler Motors to approximately INR 1,420 crore .
In March 2025, Hero MotoCorp, India’s largest two-wheeler manufacturer, announced its commitment to invest up to INR 525 crore in Euler Motors. This strategic move secured Hero a 32.5% stake in the company, marking a significant entry into the electric three- and four-wheeler cargo vehicle segment.
Euler Motors, founded by Saurav Kumar , specializes in the production of electric L5 cargo vehicles and electric light commercial vehicles (LCVs) . The company is at the forefront of India’s e-mobility transition, especially in last-mile logistics.
Dr. Pawan Munjal , Executive Chairman of Hero MotoCorp, emphasized the strategic importance of the investment:
“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.”
Abhinav Sinha , Managing Director and Head of Technology, Telecoms and Sustainable Industrials at BII, added:
“We are pleased to deepen our partnership with Euler Motors as it scales its operations and brings next-generation EVs to more people in India. Since our initial investment in 2023, Euler Motors has advanced e-mobility adoption and created better jobs.”
The Series D round will enable Euler Motors to scale manufacturing, expand its market presence, and accelerate research and development for next-generation EV platforms tailored to India’s diverse logistics needs.
With EV adoption gaining momentum across India, Euler Motors is positioned to play a pivotal role in reshaping the nation’s commercial transportation sector.
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