Ather Energy raises Rs 84 crore from Hero MotoCorp
Electric vehicle startup Ather Energy on Friday said it has raised Rs 84 crore from the country’s largest two-wheeler maker Hero MotoCorp as an extension of series C round.
Hero MotoCorp has been a part of Ather’s growth story since 2016, when they first invested as a part of Series B. This round is a reinstatement of confidence by existing investors in Ather’s potential and success, Ather Energy said in a statement.
“We are in a high growth phase of our journey, and while the last few months have been challenging, we have not altered our expansion plans.
“Our geographic expansion and the roll-out schedule for the Ather 450X are on track, and we will be using these funds to invest in our facilities to meet the demand we have seen for the Ather 450X across the country,” Ather Energy Co-founder & CEO Tarun Mehta said on the laterst fundraise.
