Euler Motors Pvt Ltd on Thursday said it has raised Rs 30 crore (about $4 million) as a feature of its progressing Series A financing.
The round was driven by existing financial backers Inventus India and Jetty Ventures, said Euler in a proclamation.
Existing financial backer Sujeet Kumar, prime supporter of Udaan, additionally took an interest in this round other than new financial backers Srinivas Anumolu and K Ganesh from Growth Story, it added.
Euler Motors, which was established in 2018 by Saurav Kumar, will utilize the assets for another creation office, innovative work, and development of charging and adjusting foundation.
It said that around 250 Euler Motors’ three-wheeler electric vehicles (EVs) are utilized by internet business organizations, for example, Bigbasket, Ecom Express and Udaan in Delhi-NCR for last-mile conveyance.
Euler Motors had brought Rs 20 crore up in its Series A round drove by Inventus India a year ago. It had first raised financing from Blume Ventures, Emergent Ventures and an individual financial backer in 2019.
The organization has brought Rs 50 crore up in all out as a component of its Series A subsidizing round and an aggregate of Rs 65 crore since commencement.
