Ather Energy raises $128 million led by Indian government’s sovereign fund, Hero MotoCorp
Bengaluru: Electric scooter maker Ather Energy said it has raised $128 million led by National Investment and Infrastructure Fund (NIIF), the Indian government’s sovereign wealth fund, and existing investor Hero MotoCorp.
Hero MotoCorp had announced an investment of Rs 420 crore (about $54 million) in Ather in January.
Tarun Mehta, cofounder and CEO of Ather Energy, told ETtech that the funds will be used to expand its manufacturing facilities, invest in research and development and its charging infrastructure, and grow its retail network.
