Ather Energy raises $128 mn led by NIIF's SOF, Hero MotoCorp & others

While the move does not put Ather Energy in the unicorn club, it definitely brings it within striking distance

Ather Energy, India’s leading electric two-wheeler company, raised $ 128 million on Thursday in a Series E round of funding led by the National Investment and Infrastructure Fund’s (NIIF) Strategic Opportunities Fund (SOF) and Hero MotoCorp, a significant shareholder in Ather, which has again invested and continues to hold its stake at 35 per cent after the fresh infusion, apart from other investors.

While the move does not put Ather in the unicorn club, it definitely brings it within striking distance. The move comes at a time when the electric scooter industry is showing signs of slowing down after heady