India: Hero MotoCorp-backed Ather Energy looks to raise up to $43m

Electric scooter startup Ather Energy, which is owned a third by Hero MotoCorp Ltd, is gearing up to raise between Rs 200 crore and Rs 300 crore over the next 10 months to a year to expand into newer markets such as Chennai and Pune, said a person with direct knowledge of the matter. The next round of funding would support Ather’s needs for a year, and the Bengaluru-based company would need to do another round in the coming years for its future expansion and product development plans including foraying into Delhi, said the person, requesting anonymity.