 "Hero MotoCorp, industry, automaker")
Hero MotoCorp, the world’s largest maker of motorcycles and scooters, announced a further investment of Rs 84 crore ($11 million) in Ather Energy on Friday, taking up its shareholding in the smart electric scooter start-up to 34.58 per cent. Prior to the investment, Hero MotoCorp’s shareholding in Ather Energy was 31.27 per cent.
Bengaluru-based Ather Energy said the fresh investment by Hero MotoCorp, was an extension of its Series C round that was led by Flipkart co-founder Sachin Bansal. Ather is now entering an aggressive expansion phase on the back of its flagship product, the Ather 450X, and looking to scale
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