Euler Motors raises Rs 638 crore funding in round led by Hero MotoCorp

Electric commercial vehicle maker Euler Motors has raised Rs 638 crore in Series D funding. The round was led by Hero MotoCorp, marking the two-wheeler giant’s entry in the electric three- and four-wheeler space. Existing investor British International Investment (BII), the UK government’s development finance arm, also participated in the round.

The fresh capital will be deployed to expand the company’s nationwide sales and service footprint and ramp up new product development.

This brings Euler’s total funding to date to about Rs 1,420 crore,…