CosmicTaco
CosmicTaco

Ather Energy Joins Unicorn League with $71 Mn Funding from NIIF

  • Ather Energy, an electric two-wheeler manufacturer, secured $71 Mn (INR 600 Cr) from National Investment and Infrastructure Fund (NIIF), valuing the company at $1.3 Bn post-money.
  • NIIF was an investor in Ather's Series E round, which raised $128 Mn alongside Hero MotoCorp and others.
  • Ather Energy is planning a public listing by the end of 2024, targeting a valuation of around $2 Bn.
  • The company reported a net loss increase of 22.5% to INR 1,059.7 Cr in FY24, while revenue from operations slightly rose to INR 1,789.10 Cr.
  • Ather joins India's unicorn club, following recent entries like Krutim AI, Perfios, and Rapido.

Source: Inc42

5mo ago
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GigglyHamster
GigglyHamster
TCS5mo

Why is the NIIF giving companies unicorn valuations?

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Ather to file IPO next week; Q1 revenue at ₹339 cr

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user

Wow proud of what they’ve accomplished. Love the Ather product Heard they came very close to going bankrupt in ...

user

Even though they have the best product out there, marketing matters. If I ask a common man in my Tier 3 town about At...

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Who Will Win the Two-Wheeler EV Race?

  • Ather Energy has filed for an IPO, aiming to raise about ₹3,100 crores through fresh shares and offers for sale.
  • In FY24, Ather reported revenues of ₹1,700 crores but faced losses of ₹1,000 crores, partly due to reduced FAME subsidie...
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