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Ather Energy discontinues Ather 450 scooter

28Nov By AnkitaNo Comments

Automobile

Ather Energy discontinues Ather 450 scooter

New Delhi, Nov 28, 2020: Electric two-wheeler startup Ather Energy decided to replace its first product, Ather 450, with Ather 450X and Ather 450 Plus, which have been built on the same platform, with improved hardware and software capabilities. The company had launched the Ather 450 in 2018. The company will stop the sale of Ather 450 on November 28 in both Bengaluru and Chennai, Ather Energy said in a statement. This marks the end of phase one of Ather Energy as a company as it moves on to a new stage of rapid growth aided by a new round of Series D funding, it added. "Our maiden model, Ather 450 was the outcome of four years of continuous work on R&D, design, prototype building and testing, and improving the product to make it production worthy. The learnings from Ather...

Ather Energy Appoints Former Apple India Head as a CFO

27Dec By PriyankaNo Comments

News

Ather Energy Appoints Former Apple India Head as a CFO

New Delhi, Dec 26, 2019: Hero MotoCorp-backed electric two-wheeler startup Ather Energy appointed Deepak Jain as its Chief Financial Officer. Jain, who has worked with the likes of Apple India, P&G and Gillette over the past 20 years, joins Ather from First Advantage, where he was CFO for India business, the company said in a statement. Commenting on the appointment, Ather Energy co-founder & CEO Tarun Mehta said Jain has scaled up technology and product-led companies making him an ideal addition to Ather''s team. "Deepak''s experience in leading teams and integrating manufacturing and business processes will play a key role in the next part of our story," he said, adding for a rapidly expanding company like Ather, an important focus area is laying the structure for effec...

29May By AdityaNo Comments

FUNDING

Electric Scooter Startup Ather Energy Raises $51 million funding

Bengaluru based electric scooter startup Ather Energy has raised $51 million funding, led by Flipkart co-founder Sachin Bansal & others. Sachin Bansal invested $32 million, Hero MotoCorp converted its Convertible Debt of $19 million as a part of this round. “Electric vehicles are here to stay and Ather is playing a leading role in driving this change. Sachin has been part of our growth journey and this investment is a strong endorsement of the momentum we’ve built over these years. Post the successful launch in Bengaluru, we are eager to reach out to consumers in other cities and to build more products that will excite consumers to switch to electric vehicles. The changing landscape of personal transport has also offered us more opportunities and you will hear about the new bus...

29Dec By Gauri SinghNo Comments

FUNDING

Top Five Funding of the Week (24th Dec – 29th Dec)

Without funding, an entrepreneur cannot think of taking forward or flourishing his business, and thus, funding activity is a major part of any business. With this step, the business grows and flourishes to a great extent. This week was quite eventful in terms of funding activities and let us have a look on the top five funding activities of the week. DesignCafe Online interior design platform DesignCafe has raised funds amounting to Rs 200-crore equity-financing round. This round was led by home-grown private equity firm WestBridge Capital. The transaction marks a rare venture capital-style investment by WestBridge which has so far largely preferred to place public market-focused bets. Funds from the investment will be used by DesignC...

Electric Scooter Maker Ather Energy Eyeing to Raise Funds for Development

27Dec By Gauri SinghNo Comments

FUNDING

Electric Scooter Maker Ather Energy Eyeing to Raise Funds for Development

Ather Energy is reportedly planning to raise an amount of Rs 200 crore - Rs 300 crore over the next year to expand to new markets and further its product development plans. Ather Energy had launched two scooters, Ather 450 and Ather 340, in June this year and had begun deliveries of Ather 450 in Bengaluru in September this year. This launch came nearly two years after it was first unveiled in February 2016. "We are looking at around 5-6 months to deliver our first production lot that will about around 2,000 vehicles" Ather Energy chief executive Tarun Mehta had stated. While both the scooters featured similar hardware at launch, Mehta had said they will be making a few hardware changes to differentiate the offerings in due course of time. T...

Ather Energy Commences the Delivery of its Electric Scooter

12Sep By Gauri SinghNo Comments

News

Ather Energy Commences the Delivery of its Electric Scooter

After a successful launch and five years of being in existence, Ather Energy has officially commenced the deliveries of its flagship electric scooter, the Ather 450, in Bengaluru. The Bengaluru-based startup invited a select few customers to the company's final assembly unit to hand them the keys to their Ather 450 electric scooter. Also, the company had set up private charging stations at the customers’ residences prior to the delivery of its intelligent electric scooters. With this, the owners of the electric two-wheelers will have free charging available both at home and across the city. Tarun Mehta, Co-founder and CEO said, “The past few weeks have been incredible for everyone at Ather Energy. Today marks the real launch of the company as consumers take their ﬁrst scooters home and...

Ather Energy Launches First-Ever Smart Scooters

6Jun By Gauri SinghNo Comments

News

Ather Energy Launches First-Ever Smart Scooters

Ather Energy, a five-year-old hardware startup of IIT graduates Tarun Mehta and Swapnil Jain, has launched India’s first-ever smart electric scooter called the ‘Ather 340’. The company has also come up with a better version of the entry-level model, which came as a surprise, along with higher power and higher speed retaining similar physical appearance named 'Ather 450'. The Tiger Global, Hero MotoCop and the founders of Flipkart have been the investors of the startup in 2015. The scooter’s commercial launch in the two-wheeler market has been initiated more than two years after the co-founder and CEO Tarun Mehta first introduced the 340 at a tech conference in Bengaluru, stating the availability of the scooter by the end of 2016. But the delay occurred because of the company’s struggle ...

India’s First Electric Scooter Startup Ather Energy Raises 205 Cr From Hero Motocorp

27Oct By AdityaNo Comments

FUNDING

India’s First Electric Scooter Startup Ather Energy Raises 205 Cr From Hero Motocorp

Ather Energy, India’s first smart electric scooter startup has raised 205 Cr Series B funding from India's leading Bike Company Hero Motocorp. The startup will use this funding in engineering and production work for the S340 (Ather's first e-scooter model) and on ubiquitous charging infrastructure. The startup has already raises funding from investors like Tiger Global and Sachin and Binny Bansal. But this is the first time Ather Energy investor list includes any automobile veteran. Ather Energy in a press release said, "Hero understands where the future of vehicles is headed. And this change will be quite a rapid one which will change the landscape of this industry. One cannot sit on the side-lines. One cannot not participate. A company of their size cannot move like a start-up but ...