Hero MotoCorp invests Rs 84 cr in smart scooter maker Ather Energy

Ather is now entering an aggressive expansion phase and is looking to scale to 20 cities by the end of 2021

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