EV startup Ather Energy raises Rs 900Cr via rights issue from Hero MotoCorp, GIC

Ather Energy has raised Rs 900 crore in funding from its existing investor Hero MotoCorp and GIC via a rights issue.

The EV startup plans to use the raised capital to launch new products and expand its charging and retail network.

Prior to this deal, HMCL held a 33.1% stake in Ather Energy since its initial investment in 2016.

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