Ather Energy rides high on electric scooters, may hit sales of 1 mn by 2023

Ather Energy has already received over Rs 800 crore from marquee PE players like Tiger Global, investors like Sachin and Binny Bansal, and Hero Motors, amongst others

It all began with a dream and a funding of just Rs 5 lakh from the incubation centre at IIT Madras, the alma mater of Tarun Mehta and Swapnil Jain. In 2013 the two young friends, both 23 at the time, left their jobs because they wanted to develop a top-class lithium ion battery. The venture turned out to be a bit of a flop as they soon realised there were not many takers. But as Mehta and Jain persisted, their goals shifted, and eventually, they came up with India’s first premium electric scooter built from scratch.

Mehta and Jain’s