Ather Energy raises $128-M led by NIIF, Hero MotoCorp

Bengaluru-based electric two-wheeler maker Ather Energy has raised USD 128 million in funding led by India's sovereign wealth fund National Investment and Infrastructure Fund Limited's (NIIFL) Strategic Opportunities Fund (SOF), and existing investor Hero MotoCorp among others. The company plans to use the funds raised to expand its manufacturing facilities, invest in research and development, charging infrastructure and to grow its retail network. With this investment, Ather has raised over $230 million financing to date. It also counts Tiger Global and Flipkart co-founder Sachin Bansal among its investors.