Total amount raised
$578.4 Millions
Latest funding date
Location
Ather Energy has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company is known for manufacturing electric scooters and providing fast electric vehicle charging solutions.
Keep reading to explore the intricacies of Ather Energy's fundraising journey and the investors backing this innovative company.
What Is Ather Energy?
Ather Energy, founded in 2013 by Swapnil Jain and Tarun Mehta, is headquartered in Bangalore, Karnataka, India. The company specializes in manufacturing electric scooters and providing fast electric vehicle charging solutions.
With a workforce of 1001-5000 employees, Ather Energy is committed to building a complete ecosystem for electric vehicles in India. Their product lineup includes models like the Ather 450X and Ather 450 Plus, along with the AtherGrid charging network.
For more information, you can visit their official website or check out their Crunchbase profile.
How Much Funding Has Ather Energy Raised?
- Venture Round
- Amount Raised: ₹9B
- Date: September 2023
- Lead Investors: GIC, HeroMotoCorp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Series E
- Amount Raised: ₹4B
- Date: October 2022
- Lead Investors: Caladium Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and improve infrastructure.
- Debt Financing
- Amount Raised: ₹500M
- Date: September 2022
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Series E
- Amount Raised: $128M
- Date: May 2022
- Lead Investors: NIIF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance R&D and expand market reach.
- Series D
- Amount Raised: ₹4.2B
- Date: January 2022
- Lead Investors: HeroMotoCorp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Series F
- Amount Raised: ₹865.6M
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To prepare for an IPO and expand manufacturing capabilities.
- Debt Financing
- Amount Raised: ₹2B
- Date: May 2024
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and IPO preparations.
- Secondary Market
- Amount Raised: ₹1.2B
- Date: June 2024
- Lead Investors: HeroMotoCorp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Debt Financing
- Amount Raised: ₹600M
- Date: July 2024
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and IPO preparations.
- Venture Round
- Amount Raised: ₹6B
- Date: August 2024
- Lead Investors: NIIF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
Total amount raised: $450 million. Current valuation: Not publicly disclosed.
Key Investors
- NIIF (National Investment and Infrastructure Fund)
- Details: NIIF is a fund manager that invests in infrastructure and related sectors in India. It aims to catalyze capital into the country's infrastructure sector.
- Investment Focus Areas: Infrastructure, Green Energy, Sustainable Development
- Notable Investments: Renewable energy projects, urban infrastructure
- Stride Ventures
- Details: Stride Ventures is a venture capital firm that provides debt financing to startups and growth-stage companies. It focuses on supporting high-growth businesses with flexible financing solutions.
- Investment Focus Areas: Venture Debt, Startups, Growth-stage Companies
- Notable Investments: Technology startups, healthcare, consumer goods
- Hero MotoCorp
- Details: Hero MotoCorp is a leading manufacturer of motorcycles and scooters. It holds a significant stake in Ather Energy, making it an associate company.
- Investment Focus Areas: Automotive sector, particularly two-wheelers and electric vehicles
- Notable Investments: Ather Energy, various other investments in the automotive sector
- Tiger Global
- Details: Tiger Global is a global investment firm known for backing technology-driven companies. It has a diverse portfolio with investments in various sectors.
- Investment Focus Areas: Technology-driven companies, e-commerce, software, fintech
- Notable Investments: Flipkart, Ola, LinkedIn
- GIC Singapore
- Details: GIC Singapore is a sovereign wealth fund that invests in a wide range of asset classes globally. It aims to preserve and enhance the international purchasing power of the reserves it manages.
- Investment Focus Areas: Equities, Fixed Income, Real Estate, Private Equity
- Notable Investments: Alibaba, Airbnb, Uber
What's Next for Ather Energy?
As Ather Energy gears up for its IPO, the company is poised to capitalize on the burgeoning electric vehicle market in India. With plans to invest Rs 2,000 crore in a new manufacturing plant in Maharashtra, Ather aims to significantly boost its production capacity. This expansion could help the company increase its market share, currently at 7.66%, in the competitive two-wheeler EV sector.
Future fundraising opportunities are abundant, with the potential IPO likely to attract substantial capital. Continued interest from major investors like Hero MotoCorp and Tiger Global, along with additional debt financing, will further support Ather's growth. However, the company faces challenges such as intense competition from Ola Electric and managing the financial pressures of scaling up operations. Navigating these hurdles will be crucial as Ather Energy strives to solidify its position in the market.
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