Private Equity

PE-VC Fund Investments

Hero MotoCorp to invest Rs.275-Cr more in electric 3-wheeler maker Euler Motors

Click Here   BSE Announcement   Business Line   Euler Motors  

Motorcycle and scooter maker Hero MotoCorp has invested an additional INR 275 crore in Delhi-based Euler Motors , a company which makes electric three-wheelers, in a mix of primary and secondary investment.The primary investment would be made by HMCL in Series E Compulsory Convertible Preference Shares, pursuant to which HMCL’s stake would be approximately 36% on a fully diluted basis.Launched in 2018 by Saurav Kumar, Euler's flagship model, the HiLoad EV, is claimed to be the most powerful electric cargo three-wheeler, offering a range of 170 kms.

Between Jan 2019 and Mar 2025, Euler Motors had attracted about USD 228 M from Blume Ventures, Ev2 Ventures, Athera Venture Partners, Jetty Ventures, ADB, Alteria Capital, QRG, GIC, British International Investment, Climate Angels Fund, Green Frontier Capital, Stride Ventures, Trifecta Capital, InnoVen Capital, Piramal Enterprises, responsAbility, Hero Motocorp and others.For FY25, Euler Motors had reported about INR 191 Cr in Operating Income and about INR 200 Cr in Net Loss.