EV manufacturing startup Euler Motors raised $5 million in Series B from Moglix


EV manufacturing startup Euler Motors raised $5 million in Series B from Moglix. It plans to close the current Series B funding round at around $60 million.


Euler Motors creates commercial electric three-wheelers. The startup claims to have already delivered over 250 three-wheeler electric vehicles to BigBasket, Ecom Express, and Udaan. It also stated that it has received orders for approximately 2,500 vehicles from Flipkart and BigBasket and that it expects to sell approximately 5,000 vehicles by the end of FY23.

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