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.