{"id":350,"date":"2020-05-27T17:14:56","date_gmt":"2020-05-27T17:14:56","guid":{"rendered":"http:\/\/sh026.global.temp.domains\/~qmkgwamy\/taxrodo\/news\/?p=350"},"modified":"2020-05-27T17:14:57","modified_gmt":"2020-05-27T17:14:57","slug":"automotive-technology-startup-euler-motors-raises-inr-20-crore-in-ongoing-series-a-funding-round","status":"publish","type":"post","link":"https:\/\/taxrodo.com\/news\/startup\/automotive-technology-startup-euler-motors-raises-inr-20-crore-in-ongoing-series-a-funding-round\/","title":{"rendered":"Automotive Technology Startup Euler Motors Raises INR 20 Crore In Ongoing Series A Funding Round"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li>Euler motors was founded in 2018 by Saurav Kumar<\/li><li>The Company network of 100+ charging infrastructure in Delhi NCR for charging 200 electric vehicles at any point<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"390\" src=\"https:\/\/taxrodo.com\/news\/wp-content\/uploads\/2020\/05\/Euler-motors-fund-raising.jpg\" alt=\"Euler motors fund raising\" class=\"wp-image-351\" srcset=\"https:\/\/taxrodo.com\/news\/wp-content\/uploads\/2020\/05\/Euler-motors-fund-raising.jpg 690w, https:\/\/taxrodo.com\/news\/wp-content\/uploads\/2020\/05\/Euler-motors-fund-raising-300x170.jpg 300w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n\n\n\n<p class=\"has-drop-cap\">Euler Motors, an automotive tech startup based out of New Delhi, has raised \u20b920 crore as part of its ongoing series A funding round, led by Inventus Capital. The other investors in the fresh round of funding include Blume Ventures, Singapore-based Jetty Ventures India Investments, and Udaan&#8217;s co-founder Sujeet Kumar. The company was founded by&nbsp;Saurav Kumar in 2018. The company has established a network of 100-plus charging slots in Delhi-National Capital Region for charging over 200 electric vehicles at any point of time.<\/p>\n\n\n\n<p>The company will utilize these funds for hiring talents, R&amp;D, and launch of vehicles across Indian key cities with a focus on localisation of the supply chain.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>In a media statement, Euler Motors Founder and CEO Saurav Kumar said, <\/p><cite>\u201cThe series A funds will be primarily used for hiring talents, research and development (R&amp;D), and launching our vehicles across key Indian cities with a focus on localisation of the supply chain.&#8221;<\/cite><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Arpit Agarwal, Principal at Blume Ventures, said,<\/p><cite>&#8220;Blume Ventures has been associated with Euler Motors since early days. Our initial investment was on the promise of building world-class electric vehicles for Indian conditions. We believe their innovative business model brings down the total cost of ownership (TCO) and makes EVs accessible to many in Indian market.\u201d <\/cite><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Inventus Capital India, MD, Rutvik Doshi, said.<\/p><cite>&#8220;Euler Motors is an early frontrunner in the space and is well-positioned to build the EV ecosystem. Saurav and the team have built an impressive product with a unique approach to making it work at scale.&#8221; <\/cite><\/blockquote>\n\n\n\n<p>Euler Motors is focused on sustainable last mile transport by accelerating the transition from internal combustion engines to new age electric vehicles and becoming a category leader for cargo and passenger vehicles. The company has a dedicated manufacturing and R&amp;D facility for production of light commercial electric vehicles (EVs) and automotive-grade lithium-ion battery packs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euler motors was founded in 2018 by Saurav Kumar The Company network of 100+ charging infrastructure in Delhi NCR for charging 200 electric vehicles at any point Euler Motors, an&hellip; <\/p>\n","protected":false},"author":1,"featured_media":351,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[174,5,3,6],"class_list":["post-350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup","tag-electric-vehilce","tag-funding","tag-startup","tag-startupindia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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