Hero MotoCorp invests Rs 180 crore in Ather Energy

Funds will be used to develop a future-ready product platform and infrastructure development

Overdrive October 27, 2016 17:08:13 IST
Hero MotoCorp invests Rs 180 crore in Ather Energy

Ather Energy, a Bangalore-based electric scooter start-up, has raised a fresh round of investment of Rs 180 crore from Hero MotoCorp. Previously, the firm had received a funding of Rs 75.33 crore from Tiger Global. The fund was used for the development, testing, production and launch of the brand’s first electric scooter, the S340. In this third round of investment, Hero MotoCorp has bought 26-30 per cent stake in the start-up.

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