Ather Energy secures US$128 million funding

Ather registered the highest ever monthly sales in April 2022 delivering 3,779 units.

Ather Energy has raised US$128 million in the latest round of funding. National Investment and Infrastructure Fund Limited (NIIFL), Strategic Opportunities Fund (SOF) and Hero MotoCorp took part in the Series E round.

Ather Energy plans to use the funding to expand manufacturing facilities, invest in research and development, charging infrastructure and grow its retail network.

Ather registered the highest ever monthly sales in April 2022 delivering 3,779 units. The company has also stated that bookings for the 450X are growing at 25% quarter-on-quarter.

At present, Ather offers its electric scooters in 32 cities. The company has 38 Experience Centres spread across the country and aims to expand to 150 touchpoints in 100 cities by 2023.