Ather Energy's 42% stake is now under the control of Hero MotoCorp!
India’s top two-wheeler manufacturer Hero MotoCorp has sanctioned the acquisition of additional stake of 2.2 percent in the electric scooter making startup Ather Energy for around 
124 crore (probably $15 million). This is the third consecutive investment of Hero MotoCorp in the Bengaluru-based startup in the last nine months.
124 crore (probably $15 million). This is the third consecutive investment of Hero MotoCorp in the Bengaluru-based startup in the last nine months.
In the month of December, Hero MotoCorp purchased 3 percent stake in Ather Energy for 140 crore (probably $16.8 million). Within this latest investment, now Hero MotoCorp covers around 42 percent share holdings in the startup.
140 crore (probably $16.8 million). Within this latest investment, now Hero MotoCorp covers around 42 percent share holdings in the startup.
This significant development comes very after the startup’s $34.5 million debt and equity fundraise in which the co-founders Mehta and Swapnil Jain also invested more than $10 million mutually.
During Series E funding round in May 2022, Ather Energy was estimated at $750 million, since then, the estimation has not disclosed.
According to the data intelligence platform for startups, TheKredible, after the two-wheeler manufacturer Hero MotoCorp, Sachin Bansal is the second investor in Ather Energy. Another remarkable external investors are Tiger Global and Caladium Investment.
In the financial year 2023, the revenue of the startup from core operations hiked 4.36X to 1,784 crore meanwhile its losses ballooned 2.5X to 864.5 crore in the same period. For the financial year 2024, the startup is yet to file the financial results.
1,784 crore meanwhile its losses ballooned 2.5X to 864.5 crore in the same period. For the financial year 2024, the startup is yet to file the financial results.
The market of electric two-wheelers recorded sales surge in the month of May after a drop of 50 percent in overall sales of April month. According to the Vahan data, the startup Ather Energy had a market share of 9.45 percent as it traded 6,024 units in the previous month. Also, the startup’s market competitor Ola Electric was at the leading with sales rate of 37,191 units and TVS & Bajaj follows with 11,737 units and 9,189 units.
