Euler Motors secured ₹437.5 crore in Series E equity and an additional ₹250 crore in venture debt.
The funding round was led by Lightrock, with strong continued support from Hero MotoCorp and Blume Ventures.
Capital will fund a third manufacturing line at their Palwal plant to hit a production rate of 2,000 units per month.
Euler now commands a 22% market share in the 4-wheel commercial EV cargo segment, aggressively challenging legacy ICE vehicles.
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