The fresh capital will be deployed in scaling the startup's production capacity and its R&D efforts
Euler Motors caters to the logistics, commercial mobility and ecommerce sector with its electric mini trucks for heavy and light loads
According to an Inc42's report, the Indian cleantech sector is the fourth most funded industry with $829 Mn raised across 75 deals in 2024
Electric vehicle manufacturer Euler Motors has raised up to $20 Mn (around INR 173 Cr) in debt from responsAbility Investments AG.
The startup plans to deploy the fresh proceeds to scale up its production capacity and R&D efforts for fostering future EV technology. Apart from this, it will also use the capital to support growth of its flagship four-wheeler Storm EV.