Ather Energy
Ather Energy raises $51 million to grow its electric scooter business

Ather Energy raises $51 million to grow its electric scooter business after ties with Sachin Bansal


Ather is a young and a new company uprising well with the pace of industrialisation in the modern era. The company has been able to develop a vast base of followers in the country for its scooters in recent years. Different people drive differently with their own preference. This could be based on factors such as routes, road quality, traffic conditions and people personality ofc! The company has been focused on introducing the concept of smart vehicles which would be able to track data from a person’s rides. The world is growing and so should we, Ather Energy has been playing a vital role in helping us grow better.

Recently Sachin Bansal, former Flipkart co-founder who invested in the company in its initial stages has again invested in it helping it to raise $51 million with just a $32 million cheque. Sachin Bansal has been an active player in the electric vehicle play, he has investments in Bounce and Vogo and as well as in Ola which can play a very vital role in benefiting Ather Energy in the long run.

This investment by Sachin Bansal, which has helped Ather Energy to climb high up in the market ladder has allowed them to rethink designs, specs and their entire approach. This investment if anything definitely helps them to accelerate their journey much efficiently by reaching a wider audience while maintaining a managed credit risk.

Sachin Bansal after the success has remarked “Ather Energy has strong principles for end to end user experience which can lead to opening up of new revenue opportunities and accelerating the adoption of electric and smart vehicles in India. The future has electric developments and I am excited to be a part of this amazing journey in shaping the future”. He strongly believes that the ecosystem that Ather is developing with their smart products is the future of perfect urban mobility. His investment has acted as a strong endorsement to the momentum the company has been able to build over the years.

The investments in Ather Energy are not limited only by Sachin Bansal but have also received investments from Hero Corp amounting to $19 million and InnoVen Capital amounting to $8 million.

Ather Energy has been participating in the growth of an entirely new industry with completely new technology, better platforms with different vendors and investors. They have been able to hit the ball in the right direction with the help of Sachin Bansal helping them in acquiring long-term sustainability. They have been cognizant about their capital investments with Tiger Global and Sachin and Binny Bansal.

They have planned strategic tactics to make use of the fresh capital in expanding the startup in new cities. The company has yet planned that by 2023, they will be growing its existence in almost 30 cities with 6,500 charging stations and a production capacity of a million scooters over in a year. The company offers its users their scooters in three ways: Proper purchase, subscription with value added features or leasing.

 

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