Hero MotoCorp invested about $12m in a $35.1m round that took its stake in the smart electric scooter maker to nearly 38%.
India-based electric scooter producer Ather Energy has secured Rs 2.6bn ($35.1m) in series D funding from investors including motorcycle manufacturer Hero MotoCorp, Entrackr has reported.
The round was led by a $23m investment from Sachin Bansal, co-founder of e-commerce marketplace Flipkart, with the rest being provided by Hero. It represented a 10.6% fall in valuation from the company’s last round, according to a regulatory filing seen by Entrackr.
Ather has developed an electric scooter kitted out with an electronic display,…
