Ather Energy to look beyond 2-wheelers in 5 years

Bengaluru-based electric scooter manufacturing start-up Ather Energy is considering expanding beyond the two-wheeler space that it currently operates in, in the next 4-5 years, said the company’s co-founder and chief executive officer, Tarun Mehta. It is looking at raising more funds through a Series D route after July, once its new product, the 450X, is on the road, he said.

The Hero Moto Corp Ltd-backed start-up will be directing these funds more towards operations, expansion and sales this time, as opposed to the earlier pronounced focus on research and development, he said. The last round of fund-raising was through the Series C route. The company has raised ₹675 crore through equity funding so far.