Ather Energy raises ₹1,200 cr preferential issue, total ₹2,500 cr
Business
Ather Energy just scored a massive ₹1,200 crore preferential issue, with 97.72% of votes cast in favor of the resolution at an Extraordinary General Meeting.
Combined with their earlier raise, their total fundraise is around ₹2,500 crore to fuel their electric scooter ambitions.
Hero MotoCorp leads Ather Konarc funding
Hero MotoCorp led the charge with a ₹960 crore investment, while the India-Japan Fund added ₹200 crore. Ather's co-founders also pitched in.
The fresh funds will help ramp up manufacturing (including a new factory), push tech development, and launch Ather Konarc on August 29 at Ather Community Day.