Euler Motors raises $60 million in GIC Singapore-led funding round
Electric vehicle-maker Euler Motors said on Tuesday it had raised $60 million in its latest funding round, led by investment firm GIC Singapore, to shore up its manufacturing and supply chain.
The Indian startup did not disclose the valuation at which it raised the money in the Series C round, although it said its other investors included Blume Ventures, Athera Venture Partners, QRG Holdings, ADB Ventures and Moglix.
India’s EV sector is seeing a lot of interest from investors, with Magna International investing $77 million in India’s EV startup Yulu and Indian bikemaker Hero MotoCorp pumping in $60 million in Zero Motorcycles to jointly develop electric motorcycles.
