Electric scooter maker Ather Energy announced on Saturday that it has raised a $ 35 million investment in its latest Series D round led by Sachin Bansal’s investment of $ 23 million. Hero MotoCorp has also invested $ 12 million as part of the Series D round at Ather Energy.
Ather Energy has been moving rapidly to expand its reach across the country as of late, with the opening of nine new markets: Pune, Ahmedabad, Mumbai, Delhi, Coimbatore, Kochi, Kozhikode and Kolkata in the coming days. He is also preparing to establish the Ather Grid in all the new cities.
Ather expects the already growing demand for electric scooters to increase rapidly in the coming times and has confirmed his plans for a new one in Hosur of Tamil Nadu. This facility will be able to deploy one million units each year. This investment round will enable Ather Energy to accelerate its expansion plans and accelerate deliveries of the Ather 450X. “Electric vehicles are here to stay and Ather Energy is playing a leadership role in driving this change. Sachin has been part of our growth journey and this investment is a strong endorsement of the momentum we have built over these years,” said Tarun Mehta . , Co-founder and CEO of Ather Energy.
Ather 450X and 450 Plus are the two main products that act as the axis of the company’s expansion plans in the country.
Bansal, as such, also relies on Ather’s roadmap ahead. “Their new product line and expansion plans across the country will make EVs part of the Indian landscape. Having been part of the team since 2014, it’s great to see their vision take shape,” he said.
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