Ather Energy Closes USD 34.5 Mn Funding Round with Support from Co-Founders, Stride Ventures Tarun Mehta and Swapnil Jain, the co-founders of the Bengaluru-based company, have contributed around INR 43.28 crore.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

[L-R] Swapnil Jain and Tarun Mehta, Co-founders, Ather Energy

EV manufacturer Ather Energy has announced the raising of INR 286 crore (USD 34.5 million) through a combination of debt and equity.

Tarun Mehta and Swapnil Jain, the co-founders of Ather, contributed INR 43.28 crore each in Series F compulsory convertible preference shares, while venture finance firm Stride Ventures invested INR 200 crore through non-convertible debentures, as reported by different media portals.

The money will probably be used by Ather to promote new products, expand its network of retail dealerships, and improve its charging infrastructure.

Nine months ago, the IPO-bound firm declared that it had raised INR 900 crore through a rights issue from existing investors Hero MotoCorp and GIC. For INR 140 crore, Hero MotoCorp purchased an extra 3% of Ather in the same month.

Up to now, Ather has raised almost USD 450 million.

Founded in 2013 by Tarun Mehta and Swapnil Jain, the EV manufacturing company comprises more than 1,400 charging stations located in 100 locations. Three electric scooters—the Ather 450X, Ather 450 Plus, and Ather 450S—are its areas of expertise in manufacturing.

With support from HeroMoto Corp, Tiger Global, and GIC, the platform has sold over 1.73 lakh electric scooters to date.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Leadership

Praveen Someshwar to Succeed Hina Nagarajan as CEO of Diageo India

Praveen Someshwar will take over as managing director and CEO from Hina Nagarajan, effective from April 1, 2025. Someshwar will join as CEO-designate on March 1, 2025, before officially assuming the role.

Leadership

5 Keys to Promoting Accountability in Your Business

Start by making sure you are a good role model for your employees to follow.

Growing a Business

How to Build a Solid Go-to-Market Strategy for 2025

Here's your playbook for creating a GTM strategy that works in 2025.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.