Hero-backed Ather Energy to go for another round of fundraising

Ather Energy is looking for another round of fundraising, after raising Rs 84 crore from Hero MotoCorp, India’s largest two-wheeler manufacturer, through a Series C round, in the last week of July.

The electric scooter maker’s plans for expansion and a new factory are on track for the year. Speaking to Moneycontrol, Tarun Mehta, Chief Executive Officer, Ather Energy, said: “We look forward to raising more funds from investors, including Hero. You should hear something in the next six months.” Mehta declined to share the size of the target fund.

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