Euler Motors
Manufactures electric commercial vehicles for last-mile logistics and urban transport.
Founding year
2017
Sector
Electric Mobility, Manufacturing
Series
Series C1 (March 2024)
Nishchay Chadha
Co-Founder
Founder & CEO
Founder & CEO
About
Euler Motors is an electric vehicle OEM focused on developing and manufacturing three-wheeler cargo EVs optimized for intra-city logistics. Founded in 2018, the company has built a strong value proposition around high load capacity, extended range, and robust design tailored for Indian operating conditions. With its flagship model, HiLoad, Euler has carved a niche in last-mile delivery, serving clients across e-commerce, FMCG, and logistics. The company is also investing in its charging ecosystem and service network to support fleet uptime and customer retention.
Why We Invested?
We backed Euler for its first-mover advantage in the 3W cargo EV segment—a category that combines large addressable demand with clear electrification tailwinds. The team has demonstrated strong execution, achieving rapid fleet-scale deployments with marquee clients and strong unit economics. The in-house product IP and vertically integrated model give Euler defensibility in a market that’s getting increasingly crowded. We see Euler as well-positioned to lead the transition from ICE to EV in commercial mobility, with meaningful upside as EV adoption accelerates.
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