Ather Energy has raised an investment of $35 million in its latest round of Series D led by Mr Sachin Bansal’s investment of $23 Mn.
Ather Energy was one of the earliest start-up investments of Mr Sachin Bansal when he invested $0.5 million in the firm as an angel investor in 2014 and with this round, has made a total investment of $53 million, said a press release.
It went on to say that Hero MotoCorp has also invested $12 million as a part of the Series D round in Ather Energy. The continued investment by the existing investors is a manifestation of confidence in the brand and the sector, added the release.
Mr Tarun Mehta, Co-founder & CEO, Ather Energy, said, “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.”
Mr Sachin Bansal commented: “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.”