Ex-Flipkart CEO has raised his investment in the e-scooter start-up.
Ather Energy has raised Rs. 260 crore in the latest round of funding led by ex-Flipkart CEO Sachin Bansal. Hero MotoCorp has also raised its investment in the company by Rs. 89 crore.
The Bangalore-based e-scooter maker has expanded its operations to more cities since its launch. The company will start selling the Ather 450 range in 9 new markets including Pune, Ahmedabad, Mumbai, Delhi, Coimbatore, Kochi, Kozhikode and Kolkata in the coming days. In addition to this, the company is also expanding its Ather Grid charging network.
In order to meet the growing demand for electric scooters, Ather Energy will be moving to a new production facility in Hosur, near Bangalore. It will have an annual production capacity of 10 lakh units.
Sachin Bansal has been part of Ather Energy since 2014. He was among the first to invest in the start-up.
Source: Read Full Article