Commercial EV maker Euler Motors raises $60 mn in funding round led by GIC

Company will use the money to strengthen manufacturing, supply chain and hire talent

Euler Motors, an electric commercial vehicles builder, has raised $60 million in a fundraising round led by GIC Singapore.

The series C funding round also saw participation by Blume Ventures, Athera Venture Partners (formerly Inventus India), QRG Holdings, ADB Ventures and Moglix.

Euler Motors will use the funds to scale up its manufacturing and supply chain, product development and augment talent. It will invest in distribution network and brand building as it expands its retail presence in 12 new markets by the end of this fiscal.

“Our vision is to not only develop industry-leading products but also the ecosystem to