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CleanTech EVs Tech in India

Indian electric scooter maker Ather Energy raises $128 million

India-based electric scooter maker, Ather Energy [https://www.atherenergy.com/] has raised $128 million from the National Investment and Infrastructure Fund (NIIF), the Indian government's sovereign wealth fund, and Hero MotoCorp. * The company claims the fund will be used to increase its manufacturing facilities, invest in research and

Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi
Updated
Indian electric scooter maker Ather Energy raises $128 million
Photo by Ather Energy / Unsplash

India-based electric scooter maker, Ather Energy has raised $128 million from the National Investment and Infrastructure Fund (NIIF), the Indian government's sovereign wealth fund, and Hero MotoCorp.

  • The company claims the fund will be used to increase its manufacturing facilities, invest in research and development, expand its charging infrastructure and scale its retail network.
  • The latest investment marks Ather's funding from institutional investors since it last raised funds from Tiger Global in 2015.
  • Since it registered an all-high sales in February 2022 (3,779 units sold), the company projects a 100% increase in demand in the next five months.
Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi
Updated

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