Ather Raises ₹286 Crore In First Round Of Investment In 2024

Ather Energy has successfully raised ₹286 crore in its first round of investment via debt and equity. The latest round of investment should push its valuation to more than $750 million (last updated in 2022), and this should help the company attain Unicorn status by this year.

This investment comes in addition to the ₹140 crore that Hero invested earlier in December raising its stake by 3 per cent in the Bengaluru-based manufacturer. On the sidelines, Ather has also raised ₹286 crore from its founders and Stride ventures. 

The latest investment also comes shortly after Ather launched its first family-centric electric scooter, the Rizta. Although based on the same platform that also underpins the brand’s 450 scooters, the Rizta has been designed from the ground up keeping practicality in mind that should be feasible to all types of Indian families daily. Read our first ride review here.

Ather Energy is already the fourth-largest electric two-wheeler manufacturer in India. Last month, in May the brand retailed a total of 6,045 units, which is a 47 per cent month-on-month growth compared with the 4,117 units. The latest investment should help the brand expand its dealership network, which should help increase its sales as well. The Ather Grid charging network is also slated for expansion, which should further rake in significant business.