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.

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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.

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

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

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

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

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