PE Fund Investments
Electric scooter maker Ather raises $71-M from Govt’s NIIF; turns Unicorn
Bengaluru-based electric two wheeler maker Ather Energy has raised INR 600 crore (USD 71 million) funding from existing investor National Investment and Infrastructure Fund (NIIF) at a valuation of USD 1.3 Billion (around INR 10,900 crore), making it into the latest Indian unicorn startup.
Between Mar 2015 and Sep 2023, Ather Energy had raised over USD 576 M from GIC, Hero Motocorp, Navam Capital, NIIF, Sachin Bansal and Tiger Global.For FY23, Ather Energy had reported about INR 1,783.60 Cr in Operating Income and about INR 864.50 Cr in Net Loss.
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