Euler Motors, a startup that designs and builds commercial electric vehicles, raised $60 million in Series C led by Singapore’s sovereign fund GIC where Blume Ventures, Athera Venture Partners, QRG, ADB Ventures and Moglix also participated.
Long before the Olas of the world attempted to build an electric bike that occasionally caught fire, Euler Motors tested hundreds of prototypes and logged millions of miles to see if they could withstand the conditions of Indian roads and extreme temperature ranges. The result is the HiLoad EV, an electric cargo three-wheeler with several industry firsts, including a payload capacity of 688 kg (1516 pound). It is powered by a 12.4 KWh liquid-cooled battery pack that takes up to four hours to charge but supports fast-charging to deliver 50 kilometres in 15 minutes.
