Ather Energy raises $35 million in funding round led by Sachin Bansal

Hero MotoCorp-backed electric two-wheeler maker Ather Energy on Saturday said it has raised funds to the tune of $ 35 million in a funding round led by Flipkart co-founder Sachin Bansal’s investment of $ 23 million.

Besides Bansal, Hero MotoCorp has also invested $ 12 million as a part of the Series D round in the EV startup, according to a release.

This round of investment will allow Ather Energy to accelerate its expansion plans and speed up the deliveries of its electric scooter, Ather 450X, the Bengaluru-based startup said.

Ather Energy was one of the earliest start-up investments of Bansal, who chipped in as an angel investor with $ 0.5 million funds in the firm in 2014.

With this round, Bansal’s total investment in the startup stands at $ 53 million, according to the release.