Advantage Hero MotoCorp as Ather Energy looks to raise ₹200-300 crore3 min read 27 Dec 2018, 08:48 AM IST
Ather Energy's plan to raise 200-300 crore in fresh funding over the next one year is noteworthy as investor Hero MotoCorp is yet to develop its own electric scooters and motorcycles
New Delhi: Electric scooter startup Ather Energy, which is owned a third by Hero MotoCorp Ltd, is gearing up to raise between ₹ 200 crore and ₹ 300 crore over the next 10 months to a year to expand into newer markets such as Chennai and Pune, said a person with direct knowledge of the matter. The next round of funding would support Ather’s needs for a year, and the Bengaluru-based company would need to do another round in the coming years for its future expansion and product development plans including foraying into Delhi, said the person, requesting anonymity.
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