🚀 Powering India's Commercial EV Revolution: Euler Motors Raises $47M (~₹437 Cr) @Euler_Motors (Fund III) has raised $47M in a funding round led by Lightrock. We participated in the round along with Hero MotoCorp. The company has also secured ₹250Cr in debt financing from BlackSoil, Trifecta, InnoVen Capital India, and Alteria Capital. Founded by @sauravk_89 (Saurav) in 2018, Euler Motors is a leading commercial electric vehicle manufacturer building purpose-built electric three- and four-wheeler cargo vehicles for last-mile logistics. The fresh capital will be deployed to double production capacity to 2,000 vehicles per month, with a third manufacturing unit set to go live in the next six months. Around ₹400Cr will be invested over the next 18 months across R&D, tooling, product development, and factory expansion. The company reported ₹192Cr in revenue for FY25 and is on track to post 100% revenue growth in FY26, with presence across 60 cities and plans to expand to 100. "Euler has always invested heavily in R&D and building purpose-built EV products rather than retrofits. We will continue investing in batteries, software, and localisation. We want to scale to 2,000 vehicles per month," said Saurav Kumar, Founder & CEO of Euler Motors. @arpiit (Arpit), Partner at Blume, says, "We have been delighted by the way Saurav and his team have executed over the last 8 years. They've proven that young Indian companies can build high-quality automotive products from scratch, loved by customers with the potential to become market leaders. The journey hasn't been easy, but we're excited about what's ahead." With EV penetration in four-wheel commercial vehicles still at just 1-2%, Euler Motors is positioned to capture a massive opportunity as India's logistics sector goes electric — delivering cleaner, more efficient last-mile solutions across the country. 📰 Read the full press release here: shorturl.at/xo4Sp @BKartRed @AshishFafadia @sajithpai @sanjaynath @arpiit @riashroff @saritaraichu @mehtaalok @mitul_am @SeekingN0rth @DeepikaDakuda @gauthamsiv @ray_elton99 @vikramg05