Introduction
Ather Energy is an Automotive, electric vehicles, motorcycle industry. It’s is an Indian private Ltd. company that produces two electric scooters: Ather 450x and Ather 450 plus.
Ather Energy was founded in 2013 by Tarun Mehta and Swapnil Jain. The headquarters are located in Banglore, Karnataka, India.
The company has also set up an electric vehicle charging infrastructure across the country that’s called Ather Grid.
The production output of the corporate is 40,000 vehicles in 2019.
Ather Energy started its new production facilities in Hosur, Tamil Nadu, on January 2, 2021. The company has approved cameras into its new production facility for the primary time.
The new Ather factory features a yearly capacity of 1,10,000 scooters and packages of 1,20,000 batteries.
Nowadays, the company has appeared in 27 cities across 15 states.
The 450 x has its battery under the floorboard, meaning more durable weight diffusion and a lower centre of gravity.
● Funding and investments Funding
Ather Energy has raised a whole $102.2 M in funding over 5 rounds. Their latest funding was raised on July 24, 2020, from a Series C round.
Investment: Ather Energy is funded by 6 investors. The foremost 2 recent investors are HeroMotoCorp Ltd and Sachin Bansal.
Electric scooter producer Ather Energy has raised Rs. 130 Crore debt from the current investor HeroMotoCorp.
HeroMotorCorp is that the maiden infusion within the Bengaluru-based corporation this year.
Hero FinCrop limited, which is an associate company of HeroMotorCorp, has passed a sanction letter to Ather energy corporation for a loan amount of Rs. 130.00 Crore.
The primary investor of Ather Energy’s series B fundraise in 2016 is Pawan Munjal, and he owns around 35% stake within the corporation.
When Ather Energy is reaching to develop its charging stations and expand its existence in additional cities, a new fund has come at now.
Tarun Mehta-led company is ready to witness hyper-competition from Ola Electric which is slated to deliver its electric scooters S1 and S1 pro soon.
Accel-backed bounce and traditional scooter makers are turning out with their respective portfolios of electric scooters.
Ola electric had recently raised $200 million at a $3 billion valuation, and in keeping with media reports, it’s raising another $200 million at over $5 billion valuations.
The company is anticipated to start out delivering scooters by the tip of this fiscal. Entrackr had exclusively reported the acquisition and also the company’s EV’s ambition.
Sales And Revenue
Currently, Hero Electric is the market leader that encompasses a 36% market share in India’s two-wheeler EV segment.
At present, the two-wheeler major has 1,000 charging stations.
To increase this by 10x, it recently partnered with massive mobility.
For the twelvemonth ending on March 31, 2021, Ather Energy had posted a 126% jump in operating revenue which stood at Rs 79.8 Crore in FY21.
While the bulk of this revenue is generated Via the sale of EV scooters, collections from the after-sales service vertical have also grown 433.34% to Rs. 1.6 Crore during the last fiscal.
Even with a 126% increase in sales, its annual losses had increased by only 6% to Rs. 233.3 Crore in FY21 as compared to Rs 220 Crore lost in FY20.
The company is about to turn profitable at the operating level in FY22 and Is within the market to boost a brand new equity round.
Read More : How Ola Electric Scooter could be the Game Changer in Two-Wheeler…
