Electric two-wheeler startup Ather Energy raised $128 million in Series E from India’s sovereign fund NIIF (National Investment and Infrastructure Fund) Limited where existing investor Hero MotoCorp, among others also participated.
Ather is involved in the design, manufacture, and production of electric vehicles and charging infrastructure. The funds will be used by Ather to expand manufacturing facilities, invest in R&D and charging infrastructure, and expand its retail network. In addition, the startup has over 250 designs, trademarks, and patents registered in over 20 countries. Ather recently installed its Ather public charging network across 310+ charging points in India.