Debt

Debt financing

Ather Energy raises Rs.200-Cr from Stride Ventures

Economic Times  

Electric scooter maker Ather Energy has raised INR 200 crore from venture debt firm Stride Ventures through series C3 debentures.Separately, the company’s co-founders Tarun Mehta and Swapnil Jain have invested INR 86 crore via series F preference shares.Ather Energy had raised INR 900 crore in September 2023 from Hero MotoCorp and GIC through a rights issue. In December, Hero MotoCorp increased its stake to 39.7% by investing another INR 140 crore. Other investors in the company include the National Investment and Infrastructure Fund and Tiger Global.Ather’s operating revenue grew over fourfold to INR 1,784 crore in FY23, while its net loss also widened over twofold to INR 864.5 crore.