Ather Energy joined the Unicorn Club on Aug 13, 2024 after raising a $71.4 million Series E funding round led by NIIF. Headquartered in Bengaluru, Karnataka, India, Ather Energy manufactures electric scooters, charging infrastructure, smart helmets, and accessories.
The company provides electric two-wheeled vehicles for urban transportation, supported by a network of charging stations. Ather Energy also offers smart helmets with integrated technology, accessories to enhance scooter experience, roadside assistance, and extended warranty options.
Keep reading to learn how Ather Energy scaled into a unicorn in the electric vehicle sector.
What Is Ather Energy and What Does It Do?
Founded in 2013, Ather Energy is an electric vehicle manufacturer producing scooters, charging infrastructure, smart helmets, and related accessories. The company focuses on urban mobility and sustainable transportation solutions.
Ather Energy provides a holistic EV ecosystem, including fast-charging networks, smart connected devices, and value-added services like roadside assistance and extended warranties to improve customer experience and EV adoption.
How Much Funding Has Ather Energy Raised?
1. Series E Round
- Amount Raised: $71.4 million
- Date: Aug 13, 2024
- Lead Investor: NIIF
- Purpose: Expand EV production, charging infrastructure, and technology offerings
2. Seed Round
- Amount Raised: ~$10 million
- Date: 2013
- Key Investors: GIC, early stage investors
- Purpose: Launch first electric scooter and develop technology platform
3. Series A Round
- Amount Raised: ~$40 million
- Date: 2015
- Key Investors: GIC, Tiger Global Management
- Purpose: Scale production and expand distribution network
4. Series B Round
- Amount Raised: ~$50 million
- Date: 2016
- Key Investors: GIC, Tiger Global Management
- Purpose: Expand product portfolio and charging infrastructure
5. Series C Round
- Amount Raised: ~$80 million
- Date: 2018
- Key Investors: GIC, Tiger Global Management, strategic investors
- Purpose: Scale manufacturing and expand EV ecosystem
6. Series D Round
- Amount Raised: ~$250 million
- Date: 2020–2022
- Key Investors: GIC, Tiger Global Management
- Purpose: Expand EV production, smart vehicle features, and distribution
Total Funding Raised: $502 million Latest Funding Date: Aug 13, 2024 Employee Count: 1,755
Key Investors
- GIC
- Details: Global sovereign wealth fund investing in high growth technology and manufacturing companies
- Focus Areas: Electric vehicles, clean energy, and sustainable infrastructure
- Tiger Global Management
- Details: Growth equity and venture capital firm backing global technology companies
- Focus Areas: EV technology, mobility solutions, and scalable manufacturing
Where Is Ather Energy’s Headquarters?
Ather Energy is headquartered in Bengaluru, Karnataka, India, serving as the hub for EV manufacturing, technology development, charging infrastructure, and product innovation.
What’s Next for Ather Energy?
Ather Energy plans to expand EV production, increase charging infrastructure coverage, and launch smart mobility solutions. The company is investing in advanced technologies, connected devices, and services to drive EV adoption in India and beyond.
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