The Series D funding round was led by 360 ONE Asset and Vertex Growth, with participation from existing backers Vertex Ventures Southeast Asia and India and 3one4 Capital.
The fresh capital will be deployed to expand Euler Motors' nationwide sales and service network and accelerate the development of new electric commercial vehicle (ECV) products aimed at mass adoption.
The fresh funds will fuel 1-India Family Mart's expansion to 100 stores by 2029, focusing on tier II–IV cities and aiming to achieve INR 600 crore in revenue.
The fresh capital will be directed towards the development of next-generation infrared sensors, commercial deployment of high-power microwave (HPM) technologies to counter modern battlefield threats, and working capital support for global expansion and ongoing programs.
The Mumbai-based brand plans to utilise the fresh capital to expand its business, enhance technology, repay existing debt, and explore acquisition opportunities.
The Series D funding was led by Peak XV Partners, with support from Elevar Equity, Elevation Capital, Temasek, and TVS Capital, reaching INR 950 crore total funding.