1. Ather Energy raises Rs 180 crore from Hero Moto

Ather Energy raises Rs 180 crore from Hero Moto

Ather Energy, an electric two-wheeler start-up, on Thursday said it has raised R180 crore from Hero MotoCorp for a 26-30% stake.

By: | Bengaluru | Published: October 28, 2016 6:28 AM

Ather Energy, an electric two-wheeler start-up, on Thursday said it has raised R180 crore from Hero MotoCorp for a 26-30% stake.

This marks the third round of investments in Ather Energy, which is building the S340, a smart electric scooter.

The Board of Directors of Hero MotoCorp, in its meeting held on October 26, approved an investment of up to R205 crore, of which R180 crore will be invested immediately, Ather Energy said in a statement.

Ather Energy started operations in 2013 by IIT Madras graduates – Tarun Mehta and Swapnil Jain.

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