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Zerodha co-founder Nikhil Kamath to invest in Ola Electric-rival Ather Energy: Report

Vivek Vishwakarma
18 Sep 2023
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Nikhil Kamath to invest in Ola Electric-rival Ather Energy

After investing in Nazara Technologies, Zerodha's Co-founder Nikhil Kamath is looking to add another startup to its investment portfolio. According to an ET report, the billionaire co-founder will invest in Ather Energy, an EV maker that battles with other EV makers, including Bhavish Aggarwal's Ola Electric.


While the investment amount isn't clear, The report said that the transaction would take place as a secondary share sale, meaning Nikhil would acquire existing investors' shares in the EV company.

Nikhil's investment in Nazara Technologies

Last fortnight, Nikhil invested Rs 100 crore in Mumbai-based diversified gaming and sports media platform Nazara Technologies through Kamath Associates & NKSquared. Following this deal, SBI Mutual Funds also joined Nazara's captable by infusing Rs 410 crore in the company.


Ather Energy previously raised Rs 900 crore

The report comes almost two weeks after it raised Rs 900 crore in funding from its existing investor Hero MotoCorp and Singapore-based GIC via a rights issue. Ather had said it would use the raised capital to launch new products and expand its charging and retail network.

Ather Energy Pvt. Ltd. is a Bangalore-based electric two-wheeler maker founded in 2013 by two IITians, Swapnil Jain and Tarun Mehta. 

The company recently introduced new models to its 450-scooter series, including the 450S and 450X. The 450S, starting at Rs 1.30 lakh, offers Core and Pro variants with a 2.9 kWh battery. The 450X is available with 2.9 kWh and 3.7 kWh battery options, with prices ranging from Rs 1.38 lakh to Rs 1.54 lakh for the Core and Pro versions, respectively.

Herald Ventures, InnoVen Capital, NIIF, Sachin Bansal, Hero MotoCorp, and GIC are some of the notable investors in Ather Energy.

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