EV Startup Euler providing EV fleet to e-

commerce

Electric vehicles Startups in India are growing each and every day to fulfil the government’s aim to push the adoption of EVs in India. A Delhi based Euler Motor is providing its electric vehicles fleet to the e-commerce companies for the last mile delivery. 

EV Startup Euler

The e-commerce company’s first priority is the delivery of the products and this fleet helps in the last mile delivery options which also reduces on the expenditure which will spend on fuel not only this it is also beneficial for the environment due to its zero-emission, which the Euler Motors is exactly trying to do.

Euler Motors Startup is looking for the last mile delivery and logistics through electric vehicles. The company is providing electric vehicles fleet to both consumer and business-facing companies for last-mile delivery. The companies include such as Amazon, Udaan, Grofers, Big Basket are looking forward.

The Euler Motors is a Delhi headquartered enterprise and it has received Rs 125 crore from inventus III while Blume Ventures gave in Rs 4.6 crore and the remaining amount of Rs. 1.9 crore is added by Sujeet Kumar and Jetty Ventures.

The new round, the Blume Ventures and Inventus hold 22.84% and 13,98% stake respectively whereas Sujeet Kumar will control 1.01% equity. The company is estimated at a 93 crore fresh equity funding. The company competes with many manufacturers in the three-wheel EV space but its partnership with the e-commerce and cargo companies set it apart from all.

EVs startup of the week-Euler Motors

The company already running around 100 prototype electric vehicles in Delhi-NCR roads for cargo and parcel deliveries used by the e-commerce companies for their last-mile delivery and there are over 70 charging stations said the company in a release.

Some companies like Big Basket, Ecom Express, Blue Dart, Udaan have been using the Euler electric vehicles fleets which are providing them with a range of 80-100 kilometres on a single charge with the maximum loading capacity of 500 kilograms.

The company claims that the overall cost of EV ownership is lower than the diesel vehicles which operates at Rs 2.5 per kilometre whereas the Euler vehicle runs a kilometre in just Rs 0.6.

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