Ather Energy has added $11.2m from existing shareholder Hero MotoCorp to its series C round to bring its total to $62.2m.
India-based electric vehicle developer Ather Energy has procured Rs840m ($11.2m) in a series C extension from motorcycle maker Hero MotorCorp to bring the round to $62.2m, the Economic Times reported on Friday.
Ather previously disclosed $51m in series C funding in May 2019 led by angel investor Sachin Bansal with a $32m commitment, while Hero MotoCorp invested $19m in convertible debt financing – first reported in mid-2018 – and venture debt firm Innoven Capital supplied $8m.
Founded in 2013,…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
