Sachin Bansal leads $51 million round in e-scooter firm Ather Energy

Flipkart Co-Founder Sachin Bansal has led a $51-million funding round in electric scooter (e-scooter) company Ather Energy.

According to the Bengaluru-based start-up, Sachin, who was one of the early backers of the company, pumped in $32 million in equity funding in the fresh round, while the remaining was by existing investor Hero MotoCorp, which converted its $19 million of earlier debt into equity. In addition to this, InnoVen Capital has also extended $8-million in venture debt.

Back in 2014, Sachin, who was then the chief executive officer (CEO) of Flipkart, had put $500,000 in Ather Energy as an angel investor. “The traditional auto industry is up for re-definition.