GIC backs Indian EV startup Euler Motors in $60 million funding

Euler Motors, an Indian startup that designs and builds commercial electric vehicles, has raised $60 million in a new funding round as it works to ramp up its production capacity and broaden its offerings.
Singapore’s sovereign fund GIC led the New Delhi-headquartered startup’s Series C funding. Blume Ventures, Athera Venture Partners, QRG, ADB Ventures and Moglix also participated in the funding, which values Euler Motors at $200 million.
Long before the Olas of the world ventured into building an electric bike, which occasionally catches fire, Euler Motors tested hundreds of prototypes and c

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