Ather Energy, electric two wheeler, is looking forward to raise capital as part of its Series D round of funding. This is likely to be after July this year, as Ather prepares to start operations in around 24 cities.
Ather Energy has raised around $100 million through equity with Hero MotoCorp as its largest investor, with a 31 percent stake. Ather has also raised additional funding of $20 million through debt.
Tarun Mehta, co-founder and chief executive, Ather had once said that as a startup, when one stops raising money, one becomes profitable, and that would take some time. He even said that probably they would go out and raise money once the 450X is out on the roads (likely to be in July).
Ather had recently announced its updated product 450X, that would be up for sale from July this year, and have a substantial price increase over the outgoing model.
