BlackSoil invests ₹75 crore in Euler Motors, leading the Series D1 round

BlackSoil Capital has deployed ₹75 crore in Euler Motors. The round was led by BlackSoil with participation from other investors, following Euler Motors’ Series D funding round in May 2025.

Founded in 2018, Euler Motors manufactures electric commercial vehicles, including L5 electric three-wheelers and electric light commercial vehicles (e-LCVs). The company’s products are primarily targeted at applications such as e-commerce, hyperlocal delivery, and logistics fleets with cargo-focused EV solutions.

According to the announcement, the funds will be used to meet working capital requirements and support infrastructure expansion.

Euler Motors raised ₹638 crore in its Series D round in May 2025. In February 2026, Hero MotoCorp announced an additional investment of ₹275 crore in the company, increasing its stake in Euler Motors to nearly 36%.

The company is backed by institutional investors including Hero MotoCorp, GIC and British International Investment. Euler Motors reported revenue of ₹191 crore for FY2024–25.

Commenting on the investment, BlackSoil stated that “We remain committed in deploying alternative capital at inflection points where operating momentum meets long-term value creation. This investment reflects our conviction in Euler Motors’ trajectory and the broader opportunity within India’s electric mobility ecosystem. We look forward to this partnership as Euler Motors enter their next phase of growth.”

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