Ather Energy to raise Series D funding post July, Technology News, ETtech

Ather Energy to raise Series D funding post July Electric two-wheeler maker Ather Energy will be looking to raise capital as part of its series D round of funding after July this year as the company prepares to start operations in two dozen new cities.

The company has so far raised about $100 million (714 crore) through equity with Hero MotoCorp being its largest investor with a 31% stake. It has also raised an additional $20 million through debt.

“(As a startup) you stop raising money when you become profitable and it’s going to be some time before that happens,” said Tarun Mehta, co-founder and chief executive of Ather Energy. “I think we’ll go out and raise money once the 450X is out on the road (in July). Till then we’ll wait.”

Mehta aims for Ather to be EBIT-positive (earnings before interest and tax) in the next couple of years. The company recently announced its updated product 450X, which will be up for sale from July this year and have a substantial price increase over the outgoing model.

Follow and connect with us on , Facebook, Linkedin

Source link

Free Course

"Double Your Traffic in 30 days" + Secret Bonus

valued at $299

This amazing course will teach you, step by step, how to double if not triple your traffic over the next 30 days.

100% Privacy. We will never spam you!