Euler Motors Secures $20 Million Funding

Euler Motors, a commercial electric vehicle manufacturer, has secured $20 million in debt funding from responsAbility Investments AG to enhance its production, distribution, and research and development capabilities. This investment will support the growth of the Storm EV, Euler's flagship vehicle designed for logistics and e-commerce applications, and aligns with the company's mission to electrify India's commercial vehicle sector. The funding follows the completion of its Series C funding round, where Euler raised an additional INR 200 crore from various investors. CEO Saurav Kumar highlighted that this new capital will help scale operations and deliver sustainable solutions tailored to India's logistics needs. responsAbility's officials expressed confidence in Euler's potential to drive meaningful progress in the EV sector, particularly in commercial and logistics applications. Overall, this funding positions Euler Motors to advance its innovative efforts in the rapidly evolving electric vehicle market.