Ather Energy, a Bengaluru-based EV manufacturing startup has raised a $15 million investment from  Hero Motocorp. The company approved the purchase of an additional 2.2% stake in Ather Energy for  $15 million. This investment made Hero Motocorp the biggest stakeholder of Ather Energy with a 42% stake.  

The investment was made just after Ather Energy raised $34.5 million in a debt and equity round. The round had the participation of new and existing investors and was led with Rs 200 crore by Stride  Ventures followed by co-founders of the startup with Rs 43.28 crore each. The startup data intelligence  platform, TheKredible estimated the valuation of Alter Energy to be around $750 million in its previous  Series E round. The startup has secured a total of $450 million to date since its inception.  

The Kredible reported Sachin Bansal as the second largest stakeholder of Ather Energy after Hero  MotoCorp. Other external stakeholders of the startup include Caladium Investment and Tiger Global. This investment will be used to build two-wheeler solutions to meet market needs and to increase the  performance capability of the Electric Scooters. The company made investments in three parts and  became the largest stakeholder of the EV manufacturing startup with 42% percent of the total stake.  These finding amount will be used to build innovative EV solutions to meet public demands. 

The company reported a 4.36 times increase in its operating revenue to Rs 1,784 crore in FY23, while  the loss grew by 2.5 times to Rs 864.5 crore in the same duration. Despite the financial losses, the  startup was able to sell over 17,000 units in March. In contrast, the startup saw a 50% drop in overall  sales for April while the sales increased in May with 6,024 units sold. Alter Energy holds a 9.42% market  share and intends to use the funding amount to make its platform stronger and reach more people  around the country. 

Conclusion: 

Ather Energy is an EV startup, that raised a $15 million investment from Hero MotoCorp. Ather Energy  got this investment after the Stride Venture invested Rs 200 crore in the startup. Investors who  participated in the funding round include BP Venture, TigerGlobal, Caladium Investment, Hero  Motocorp, and Stride Ventures. Ather Energy is the largest electric scooter manufacturer with fast and  intelligent manufacturing solutions across the country. Alter Energy was valued at around $750 million  in its previous Series E round.

Ather Energy was valued at around $750 million in its previous Series E  round. The startup has secured a total of $450 million to date since its inception. The company made  investments in three parts and became the largest stakeholder of the EV manufacturing startup with  42% percent of the total stake. These fresh funds will be used to build innovative EV solutions to meet  public demands and increase the performance capability of its Vehicles. The electric two-wheelers manufacturer saw a 50% drop in overall sales for April while the sales increased in May with 6,024  units sold.