Ather Energy Secures INR 286 Crore to Power Up Its Electric Future

Bengaluru-based Ather Energy has secured a substantial funding boost of INR 286 crore (USD 34 million) from its founders and Stride Ventures.

The company is the manufacturer of electric scooters who revealed that the funds were obtained through issuing of bonds and through the sale of shares.

Series F compulsorily convertible preference shares were provided by the founders Tarun Mehta and Swapnil Jain for 86 crore INR.

This strategic funding will be very crucial in helping Ather execute his expansion plans as well as the development of further products.

Taking the Linden Amendment into account, Ather Energy has been leading the augmentation of the electric vehicle (EV) market with its creations and plans.

The investment occurred at the right time for Ather because the company needs support to compete against other players in the market.