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Ather Energy funding: Ather Energy raises $35 million in Series D funding

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New Delhi: Electric scooter producer Ather Energy Saturday mentioned it has raised $35 million in its newest spherical of Series D led by Sachin Bansal’s funding of $23 Mn.

Ather Energy was one of many earliest start-up investments of Sachin Bansal when he invested $0.5 Mn within the agency as an angel investor in 2014 and with this spherical, has made a complete funding of $53 Mn.

Hero MotoCorp has additionally invested $12 Mn as part of the Series D spherical in Ather Energy.

Ather Energy has just lately launched a brand new line of merchandise – Ather 450X and Ather 450 Plus. The firm has been aggressively increasing, with the opening of 9 new markets – Pune, Ahmedabad, Mumbai, Delhi, Coimbatore, Kochi, Kozhikode & Kolkata within the coming days, and the set up of Ather Grid in all the brand new cities.

To meet the projected demand within the coming years, Ather Energy is shifting to a brand new manufacturing facility in Hosur, Tamil Nadu, which shall be designed to supply as much as 1 million automobiles a yr. This spherical of funding will permit Ather Energy to speed up its enlargement plans and velocity up the deliveries of the Ather 450X.

Tarun Mehta, Co-founder & CEO, Ather Energy, mentioned, “Electric vehicles are here to stay and Ather Energy is playing a leading role in driving this change. Sachin has been part of our growth journey and this investment is a strong endorsement of the momentum we’ve built over these years. Post the successful launch of our new product line, we are now looking forward to delivering the vehicles and seeing them across all cities. The pandemic has changed the landscape of personal transport and we hope that with high performance alternatives available people will choose electric vehicles for their daily commute.”

“Ather Energy has set a new benchmark for intelligent electric bikes in the Indian automobile industry. Their new product line and expansion plans across the country will make EVs a part of the Indian landscape. Having been a part of the team since 2014, it’s great to see their vision taking shape”, mentioned Sachin Bansal.

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