EV maker Ather Energy has raised $50 mn funding round led by Caladium Investment. As per the company’s MCA filings, Caladium's GIC Investment has invested ₹400 crore and Herald has put in ₹64 lakh in the EV maker.
Ather Energy did not comment on the story.
Earlier this year, Ather Energy has raised $128 million in a Series E round led by the National Investment and Infrastructure Fund Ltd’s Strategic Opportunities Fund, and Hero MotoCorp.
Public charging point
Further in October, Ather Energy announced the installation of the 580th public fast charging point, the Ather Grid, across 56 cities in India. The Ather Grid allows EV owners to charge their vehicles up to 80 per cent at 1.5 km/min
The company said in a statement last week that it plans to install 820 more grids, taking the count to 1400 by the end of FY23. Ather Grids have been strategically installed across markets, with 60 per cent of current installations in tier-II and tier-III cities.
Ather Energy has partnered with multiple players like Park+, Magenta Power, and signed MoU with the Government of Karnataka, to set up EV charging locations in various cities. It is also working with Co-operative Housing Societies & Owners’ Associations to help Ather owners in setting up home charging solutions in their apartments and buildings.
Ather was founded in 2013 by IIT Madras alumni, Tarun Mehta, and Swapnil Jain. It is backed by founders of Flipkart, Sachin Bansal & Binny Bansal, Hero MotoCorp, and Tiger Global, among other investors.
Ather Energy launched its first electric scooter – The Ather 450 in 2018, followed by its flagship offering Ather 450X in 2020 and new Gen3 of the 450X in July 2022.