Hero MotoCorp-backed electric two-wheeler maker Ather Energy on Saturday said it has raised funds to the tune of USD 35 million in a funding round led by Flipkart co-founder Sachin Bansal’s investment of USD 23 million.
Besides Bansal, Hero MotoCorp has also invested USD 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 USD 0.5 million funds in the firm in 2014.
