Ather Energy

Sachin Bansal led $51 Mn funding round in Ather Energy

InfoEdge signed an agreement to acquire IIMJobs

This week, 15 startups raised $117.74 Mn

Delhi government may give incentives to online delivery players to encourage them to use EVs

Ather Energy raised $51 Mn in its latest round of funding led by Sachin Bansal

Greaves Cotton rolled out electric two-wheeler named Zeal

Sachin Bansal invested $32 Mn as a part of this round

InnoVen Capital has extended an $8 Mn venture debt for this deal

Ather is planning a new manufacturing facility to produce 1 Mn vehicles a year

Bloomberg report predicts slower growth of the electric vehicle industry in India

Okinawa to invest INR 200 Cr to set up a second manufacturing plant in Rajasthan

Panasonic launched its EV charging service named Nymbus in India

Hyundai Motors is planning to introduce its electric vehicles in Ola’s fleet by 2021

Ola Electric raised an undisclosed amount in Series A funding round from Ratan Tata

Tesla predicts a global shortage of EV battery minerals

Ebikes deliveries stalled due to lack of supply in April

FAME II recertification rules held up availability, says industry association SMEV

EV industry body says stagnation could continue for months

The govt had earlier proposed an outlay of INR 5,500 for FAME-II

It plans on setting up 2,700 charging stations in the country

Govt will offer an upfront incentive on the purchase of EVs

Sachin Bansal will establish a holding company through which he will run his new businesses and make investments

Bansal has roped in Ankit Agarwal, an investment banker, as his partner and founding employee

He has been in talks to invest in Ola, Ather Energy etc

Sachin Bansal is said to be considering investing $50-100 Mn in Ather

The development comes at a time when Bansal is also reportedly planning to invest in Ola

He is considering investments in several startups with his $1 Bn earning from selling his Flipkart stake

The investment deal will be made over three years

For the initial deal, Kymco will be putting in $15 Mn in the startup

Both the companies will together launch electric scooter under the brand of “22Kymko”

• Following this, Greaves Cotton plans to acquire the additional 13% stake in Ampere in the Next 3 years
• Post acquisition, Ampere will work as an individual entity
• The founder Hemalatha Annamalai will continue as the CEO of the company

• Ather Energy recently launched its flagship electric scooter Ather 450 along with the Ather 340
• The company has invested more than $15.6 Mn only on testing and validation of its ebikes
• It has a new industrial design in the pipeline that might come about in two years
• India aims to go 30% EV by 2030; out of which 80% are expected to be two-wheelers