Euler Motors raises $60 million in funding

6 Oct 2022 , 07:10 AM

GIC, Singapore’s sovereign wealth fund, has led a $60 million investment round for electric vehicle (EV) company Euler Motors.

Along with Blume Ventures, Athera Venture Partners (formerly Inventus India), QRG Holdings, and ADB Ventures invested in this business-to-business ecommerce company for industrial items.

Euler manufactures three-wheeled commercial vehicles for its partners’ logistics needs.

The company plans to use the money to expand its production and supply chain infrastructure, speed up product development, and hire more people for critical roles within the organization.

It is looking to increase its retail presence in 12 cities by the end of this financial year.

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