Ather Energy gets $12m funding from Tiger Global
Snapshot: After Flipkart, Tiger Global invests in Ather Energy
IIT-graduates-Tarun Mehta and Swapnil Jain started Ather Energy Pvt. Ltd. in 2013 that is an automobile manufacturing company. The company is currently working on an electric two-wheeler vehicle that will be a complete made in India product. Sachin Bansal and Binny Bansal, the founders of Flipkart, and Raju Venkatraman of Medall Healthcare funded Ather Enery with an amount of $1m in late 2014.
The team of 40 people is currently working on an electric two wheeler that is connected to a lithium-Ion battery pack. The vehicle features a digital touch-screen dashboard and is made upon the light-weight aluminium chassis that adds to the high strength and low weight factor of the vehicle. It is capable enough of doing 75kmph of top speed. Some of the brilliant features this vehicles offer includes choosing the personalized profiles, riding modes and much more that could be chosen from the options that dashboard offers.
The electric vehicle is called the S340 and it is fully conceptualized, designed and implemented in India. Ather Energy recently got $12m funding from Tiger Global that will add up to the research, development and production aspect of the launch of the Ather’s first smart electric two-wheeler – the Ather S340. The S340 is in final stages of development and is expected to hit the Indian market in 2016. Company have scheduled for the test rides of the same in October this year and number of people registering for the same is increasing as days pass by. Ather Energy will be launching the S340 in Banglore, Chennai and Delhi by early 2016.
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