[Funding News] Hero MotoCorp Invests Rs 124 Cr in Ather Energy

Hero MotoCorp has given the go-ahead to spend roughly Rs 124 crore (about $15 million) to acquire an extra 2.2% share in Ather Energy, a manufacturer of electric scooters. Hero MotoCorp has made three investments.

Hero MotoCorp paid Rs 140 crore ($16.8 million) to purchase a 3% share in Ather Energy. With this most recent investment, Hero MotoCorp now owns close to 42% of the business helmed by Tarun Mehta.

Read also - CHOSEN Secures $1.2 Mn in seed Funding Round

After Hero MotoCorp, Sachin Bansal is the second-largest investor in Ather. Two more noteworthy external stakeholders are Tiger Global and Caladium Investment.

This development comes just after Ather Energy raised $34.5 million in loan and equity, with co-founders Mehta and Swapnil Jain contributing more than $10 million in total.

Ather Energy is a company that designs, manufactures, produces, sells, services, develops software, and manages software related to electric vehicles and charging infrastructure.

Hero MotoCorp

Founded in 1984 by Brijmohan Lall Munjal, Hero MotoCorp Ltd. is the world's largest manufacturer of two-wheelers, based in India. 

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