Ather Energy raises US$ 50 million in funding

Ather Energy has been valued at US$ 700-800 million after the latest round.

Bangalore-based electric 2-wheeler start-up Ather Energy has raised US$ 50 million in funding. It is said that the latest round of investment was led by Caladium Investment, along with Herald Square Ventures.

According to a media report, the latest round is an extension of its US$ 128 million fundraise, which was led by the National Investment and Infrastructure Fund (NIIF) and Hero MotoCorp. Following the latest round of funding, the company has been valued at US$ 700-800 million.

The fresh influx of funds comes at a time when Ather Energy is looking to expand its production capacity. The company currently has its second manufacturing unit ready to go online. It has the capacity to produce 4,00,000 units per annum.

The report also states that Ather Energy is already in discussions with stakeholders to set up a third manufacturing unit.

Source: ET Auto