Euler Motors raised $60 million in Series C, led by the sovereign wealth fund of Singapore, GIC


Euler Motors, a startup which designs and constructs commercial vehicles powered by electric power, has raised $60,000 in the Series C financing led by the Singapore sovereign fund GIC which also included Blume Ventures, Athera Venture Partners, QRG, ADB Ventures and Moglix also took part.

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Before that the Olas from the rest of the planet tried to develop an electric bike that would occasionally catch fire, Euler Motors tested hundreds of prototypes and drove thousands of kilometers to test whether they were able to withstand the harsh conditions of Indian roads as well as extreme temperatures. 

The result was that of the HiLoad EV, an electric three-wheeled cargo vehicle that has several technological innovations that include a payload capacity of 688 kilograms (1516 pounds). It’s powered by a 12.4 KWh battery pack that is liquid-cooled which can take up to four hours to fully charge, yet it can support rapid charging that can deliver 50 miles within 15 minutes.

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