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Hub AI
Ather Energy AI simulator
(@Ather Energy_simulator)
Hub AI
Ather Energy AI simulator
(@Ather Energy_simulator)
Ather Energy
Ather Energy is an Indian electric two-wheeler manufacturer headquartered in Bengaluru. It was founded by Tarun Mehta and Swapnil Jain in 2013. It manufactures electric scooters including the Ather 450 series and Ather Rizta. It has EV manufacturing facilities in Whitefield, Bangalore and Hosur, Tamil Nadu. It is India's fourth-largest[timeframe?] electric two-wheeler manufacturer after Ola Electric, TVS Motor Company and Bajaj Auto. It has also established an electric vehicle charging network across India called Ather Grid.
Ather Energy was founded in 2013 by Tarun Mehta and Swapnil Jain. In early 2014, it received ₹4.5 million (US$53,000) from the Technology Development Board under the Department of Science and Technology, IIT Madras and Srini V Srinivasan, an IIT alumnus and founder of Aerospike. In December 2014, Flipkart founders, Sachin Bansal and Binny Bansal, invested $1 million as seed capital. In May 2015, it received $12 million from Tiger Global for investments in development, testing, production and the launch of the vehicle.
On 23 February 2016, the company unveiled its first scooter, the S340, at a technology conference Surge in Bengaluru. Hero MotoCorp invested ₹180 crore (US$21 million) in the Series B round of funding in October 2016. It invested again in 2018 to the tune of ₹130 crore (US$15 million).
In May 2019, Ather Energy raised $51 million in another round of funding, led by Sachin Bansal's investment of $32 million. Hero MotoCorp converted its convertible debt of $19 million as a part of this round. In addition to this, InnoVen Capital extended an $8 million venture debt.
In December 2019, Ather Energy signed an MoU with the Government of Tamil Nadu to set up a 400,000 sq ft (37,000 m2) manufacturing plant for electrical vehicles in Hosur. The invested amount will be around ₹635 crore (equivalent to ₹789 crore or US$93 million in 2023).
The company added two new products to its portfolio, the Ather 450X and the Ather 450 Plus, in January 2020.
In July 2020, Ather Energy raised $11.4 million from Hero MotoCorp, as a part of its Series C round funding. In November 2020, Ather Energy raised a fresh round of ₹260 crore (US$31 million) as a part of the Series D round, led by Sachin Bansal's investment of ₹170 crore (US$20 million) and $12 million by Hero MotoCorp.
In September 2024, the company filed a DRHP with SEBI for a Rs 4,500 crore ($536.2 million) IPO at a valuation of $2.5 billion. The company said it will sell new shares worth $370 million in the IPO as well as up to 22 million shares from existing investors.
Ather Energy
Ather Energy is an Indian electric two-wheeler manufacturer headquartered in Bengaluru. It was founded by Tarun Mehta and Swapnil Jain in 2013. It manufactures electric scooters including the Ather 450 series and Ather Rizta. It has EV manufacturing facilities in Whitefield, Bangalore and Hosur, Tamil Nadu. It is India's fourth-largest[timeframe?] electric two-wheeler manufacturer after Ola Electric, TVS Motor Company and Bajaj Auto. It has also established an electric vehicle charging network across India called Ather Grid.
Ather Energy was founded in 2013 by Tarun Mehta and Swapnil Jain. In early 2014, it received ₹4.5 million (US$53,000) from the Technology Development Board under the Department of Science and Technology, IIT Madras and Srini V Srinivasan, an IIT alumnus and founder of Aerospike. In December 2014, Flipkart founders, Sachin Bansal and Binny Bansal, invested $1 million as seed capital. In May 2015, it received $12 million from Tiger Global for investments in development, testing, production and the launch of the vehicle.
On 23 February 2016, the company unveiled its first scooter, the S340, at a technology conference Surge in Bengaluru. Hero MotoCorp invested ₹180 crore (US$21 million) in the Series B round of funding in October 2016. It invested again in 2018 to the tune of ₹130 crore (US$15 million).
In May 2019, Ather Energy raised $51 million in another round of funding, led by Sachin Bansal's investment of $32 million. Hero MotoCorp converted its convertible debt of $19 million as a part of this round. In addition to this, InnoVen Capital extended an $8 million venture debt.
In December 2019, Ather Energy signed an MoU with the Government of Tamil Nadu to set up a 400,000 sq ft (37,000 m2) manufacturing plant for electrical vehicles in Hosur. The invested amount will be around ₹635 crore (equivalent to ₹789 crore or US$93 million in 2023).
The company added two new products to its portfolio, the Ather 450X and the Ather 450 Plus, in January 2020.
In July 2020, Ather Energy raised $11.4 million from Hero MotoCorp, as a part of its Series C round funding. In November 2020, Ather Energy raised a fresh round of ₹260 crore (US$31 million) as a part of the Series D round, led by Sachin Bansal's investment of ₹170 crore (US$20 million) and $12 million by Hero MotoCorp.
In September 2024, the company filed a DRHP with SEBI for a Rs 4,500 crore ($536.2 million) IPO at a valuation of $2.5 billion. The company said it will sell new shares worth $370 million in the IPO as well as up to 22 million shares from existing investors.