*Electric scooter maker Ather Energy raised $50 million led by existing backer Caladium Investment*

Share via:

Electric scooter maker Ather Energy raised $50 million led by existing backer Caladium Investment where Herald Square Ventures also participated.

The new funds will be used to expand the company’s manufacturing capacity, as demand for electric vehicles has increased this year. Its second manufacturing facility, with a capacity of 400,000 units per year, is now operational. According to a source, the company has already begun discussions with various stakeholders about establishing a third manufacturing facility. In July, the company released a new version of its 450x scooter with a larger battery. After more than a dozen vehicles caught fire this summer, the government is making more stringent testing standards for EV two-wheelers mandatory.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

*Electric scooter maker Ather Energy raised $50 million led by existing backer Caladium Investment*

Electric scooter maker Ather Energy raised $50 million led by existing backer Caladium Investment where Herald Square Ventures also participated.

The new funds will be used to expand the company’s manufacturing capacity, as demand for electric vehicles has increased this year. Its second manufacturing facility, with a capacity of 400,000 units per year, is now operational. According to a source, the company has already begun discussions with various stakeholders about establishing a third manufacturing facility. In July, the company released a new version of its 450x scooter with a larger battery. After more than a dozen vehicles caught fire this summer, the government is making more stringent testing standards for EV two-wheelers mandatory.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at [email protected]

More like this

Inc42’s ‘Angel Rajasthan’ Workshop Brings Together 150+ HNIs, VCs...

SUMMARY The invite-only workshop garnered 150+ attendees, including HNIs,...

Cult Unveils ‘Fit Creator Accelerator’ Campaign to Cultivate Fitness...

News Update ByStartupStory     |    March 2, 2024 Cult, has...

Info Edge, Matrimony Cofounders Cry Foul After Google Delists...

SUMMARY Info Edge's cofounder, Sanjeev Bikhchandani, revealed on March...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!