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Singapore's GIC leads $60m funding for Indian EV maker Euler

Company aims to have 5,000 three-wheelers on the road by FY 2023

India's Euler Motors makes three-wheeled EV cargo vehicles like the one pictured above. (Image from Euler Motors Facebook page)
PRAMUGDHA MAMGAIN, DealStreetAsia | India

NEW DELHI -- Singapore sovereign wealth fund GIC has led a $60 million Series C funding round for Indian electric vehicle maker Euler Motors.

Blume Ventures, Athera Venture Partners (formerly Inventus India), QRG Holdings, ADB Ventures and New Delhi-based startup Moglix joined the round, Euler said on Tuesday.

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