BlackSoil invests ₹75 crore in Euler Motors, leading Series D1 round
By Eve
BlackSoil Capital has deployed ₹75 crore in Euler Motors, leading the Series D1 round following the company's ₹638 crore Series D raise in May 2025. Founded in 2018, Euler Motors manufactures electric three-wheelers and light commercial vehicles for e-commerce, hyperlocal delivery and logistics fleets, and reported revenue of ₹191 crore for FY2024 to 25. The funds will support working capital and infrastructure expansion, with Euler backed by Hero MotoCorp (nearly 36% stake after a ₹275 crore investment in February 2026), GIC and British International Investment.
Why it matters: Euler's infrastructure expansion signals growing demand for commercial EV charging networks tailored to last-mile logistics fleets, creating procurement opportunities for depot and en-route charging solutions. The company's institutional backing and revenue growth underscore the viability of commercial EV operations, which require reliable charging infrastructure to scale.