
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

GigglyHamster
TCS5mo
Why is the NIIF giving companies unicorn valuations?
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