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Ather Energy Seeks To Boost Up Its Electric Scooters Business across India, Raises $51 Million in Recent Funding

Ather Energy Seeks To Boost Up Its Electric Scooters Business across India, Raises $51 Million in Recent Funding

Bengaluru based Ather Energy is adding more competition to the Indian two-wheeler market with the launch of its electric scooters. Recently, it has announced that it has raised $51 million in a new funding in order to boost up its electric scooters business. Flipkart co-founder, Sachin Bansal led the round by investing $32 million, and Hero MoroCorp invested another $19 million. The rest $8 million was invested by venture debt VC firm InnoVen Capital. With the recent fundings, Ather has raised around $90 million till date.

Tarun Mehta, CEO of Ather Energy, said that the electric scooters, for now, are only available in Bengaluru but will soon be launched in Chennai and other cities across the country. Moreover, the company will also be targeting to manufacture 20,000 to 25,000 scooters a year at its plant in Bengaluru. Ather Energy is also planning to expand its presence to more than 30 cities and add 6500 charging stations.

The Ather scooters come with a high storage battery density, 75kms of mileage as well as a dashboard for navigation information. In addition, the scooters take less than three hours to get charged. Other giant players in the competition include Vogo, Yulu and Bounce. These firms will be conducting their trails in collaboration with Uber. Even Ola has made an investment of $100 million in Vogo that has its operations running in Hyderabad and Bengaluru.“Ather Energy’s focus on end to end customer experience will open up new revenue opportunities and accelerate the adoption of electric vehicles in India”, Tarun said in a statement.


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