Euler Motors has raised upto USD 20 million in debt funding from responsAbility Investments AG, a leading impact asset manager specializing in private market investments. This investment will help accelerate Euler Motors’ mission to electrify India’s commercial vehicle segment, enabling production scaling and advanced R&D for next-generation EV technology. It will also support the growth of the recently launched Storm EV, Euler Motors’ flagship four-wheeler designed for logistics and e-commerce clients.
Saurav Kumar, Founder & CEO, Euler Motors, said, “We are happy to have responsAbility join us on our journey to reshape commercial transportation in India, advancing the shift from ICE to electric. Their support aligns perfectly with our vision of building India’s No. 1 electric commercial vehicle brand. Over the years, we’ve earned the trust of both new and existing investors, reflecting their confidence in our mission and the growing demand from our customers, evidenced by our strong growth. This new funding will boost us to scale further, expand our reach, and continue delivering sustainable, high-performance solutions that meet India’s unique logistics needs.”
Jay Bathija, Senior Investment Officer, at responsAbility, said, “We are excited to announce our investment in Euler Motors, a company driving innovation in sustainable transportation. This partnership underscores our commitment to advancing sustainable mobility and aligns with our strategic vision of supporting forward-thinking companies that champion climate action in India’s commercial vehicle sector. Together, we are working to accelerate the shift toward a more sustainable future.”
Euler Motors has established a strong presence in the commercial EV sector with its flagship models, the HiLoad EV and Storm EV. With a growing footprint across tier 1 and tier 2 cities, Euler Motors plans to channel the new funding toward developing next-gen technology for commercial EVs, enhancing vehicle efficiency, and strengthening its after-sales and service network to support wider EV adoption across India.
Euler Motors recently closed its Series C funding round, raising an additional ₹200 crore from investors, including British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund.