Ather Energy raises Rs 260 crore million funding led by Sachin Bansal

Ather Energy, one of India’s first intelligent electric scooter manufacturers, has raised an investment of $35 million (approximately Rs 260 crore)  in its latest round of Series D led by Sachin Bansal’s investment of $23 million.

 Ather Energy was one of the earliest start-up investments of 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. Hero MotoCorp has also invested $12 million as a part of the Series D round in Ather Energy.

Ather Energy’s new line of products Ather 450X and Ather 450 Plus has been making news across the country. Ather Energy has been aggressively expanding, with the opening of 9 new markets - Pune, Ahmedabad, Mumbai, Delhi, Coimbatore, Kochi, Kozhikode and Kolkata in the coming days, and the installation of Ather Grid in all the new cities.

To meet the projected demand in the coming years, Ather Energy is moving to a new manufacturing facility in Hosur, Tamil Nadu, which will be designed to produce up to 1 million vehicles a year. This round of investment will allow Ather Energy to accelerate its expansion plans and speed up the deliveries of the Ather 450X.

Ather Energy also unveiled their collector’s edition vehicle Series 1, the only two-wheeler with transparent panels in India, in September. The Series 1 vehicle has been designed for early owners of the vehicle with only a limited group eligible to purchase it. In the past 6 months, Ather Energy has added multiple new financing plans - a one of its kind Assured Buyback option for the Ather 450X & Ather 450 Plus, new lease and loan programs and a two wheeler exchange plan. Ather Energy will begin deliveries of their smart electric scooters across India this Diwali.