Motorcycle manufacturer Hero MotoCorp has committed $31m to electric bike producer Ather Energy in return for a stake of up to 30%.
India-based electric bike manufacturer Ather Energy received $31m in series B funding from motorcycle producer Hero MotoCorp yesterday in return for a stake of up to 30%, Tech in Asia reported.
The cash will be provided across two tranches, with Ather having already received the initial $27m investment.
Founded in 2013, Ather Energy designs and produces electric scooters, such as its flagship S340 product. The funding will support the launch of the S340 and accelerate development of a charging network…
