New Delhi, March 25 -- Investors' rush to back electric commercial vehicle players has led to commitments worth $530 million in the last six months, backing new-age players at a time when the government's policy focus is shifting towards electrifying trucks and buses.

Hero-backed Euler Motors became the latest to join the wave on Tuesday as it secured funding of $47 million from Lightrock, Hero MotoCorp and Blume Ventures, with additional debt funding of $27 million from BlackSoil, Trifecta, InnoVen and Alteria Capital.

The latest funding round for the New Delhi-based electric light commercial vehicle maker brought the cumulative total of funding from investors for electric CV makers to $530 million since October, led by PMI Mobility, w...