Bengaluru based electric scooter maker Ather Energy recently secured a funding of $51 million in its latest funding round. This funding round was led by ex Flipkart co-founder Sachin Bansal. Bansal has made an investment of $32 million into Ather.
Apparently, Ather Energy would be utilising this fund for expansion process with a capacity of 25000 units per annum. They are also looking forward to expand to another 3 or 4 cities for upscaling their business. The Ather guys are opening their branch office in Chennai in a few weeks. Eventually, the company plans to expand to 30 cities by the end of 2023.
FROM THE CEO
Tarun Mehta, co-founder and CEO, Ather Energy said that Sachin Bansal had been a part of their growth journey. This investment is a strong endorsement of the momentum that Ather has built all these years.
The CEO continued that after the successful launch in Bengaluru, the team has been building more products that will excite consumers to switch over to electric vehicles. There has been a steady shift in the mindset of personal transport, and very soon people would get to know about new business models that Ather would be investing in soon.
ATHER’S DATA
This story is from the June 2019 edition of Exhibit.
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This story is from the June 2019 edition of Exhibit.
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