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