Stake sale · Mobility & Logistics
Hero MotoCorp buys 2.2% stake in Ather Energy for ₹124 crore
By Startup Enthusiast ·
- Date
- Company
- Ather Energy
- What it does
- electric scooter maker
- Kind
- Stake sale
- Amount
- ₹124 crore
- Sector
- Mobility & Logistics
What they do
Ather Energy is an electric scooter maker based in Bengaluru, India
What happened
Hero MotoCorp has purchased a 2.2% stake in Ather Energy for ₹124 crore, increasing its ownership to about 40%
Why it matters
Sachin Bansal, co-founder of Flipkart, sold a 7.5% stake in Ather Energy, including this 2.2% to Hero MotoCorp and the rest to Nikhil Kamath, co-founder of…
The details
- Ather Energy is an electric scooter maker based in Bengaluru, India.
- Hero MotoCorp has purchased a 2.2% stake in Ather Energy for ₹124 crore, increasing its ownership to about 40%.
- Sachin Bansal, co-founder of Flipkart, sold a 7.5% stake in Ather Energy, including this 2.2% to Hero MotoCorp and the rest to Nikhil Kamath, co-founder of Zerodha.
- This is the third investment from Hero MotoCorp in Ather Energy in the last nine months.
- Hero MotoCorp previously acquired a 3% stake in Ather Energy for ₹140 crore in December 2023.
- The inferred valuation of Ather Energy after this deal is ₹5,636 crore, a significant increase from its previous valuation of ₹4,666 crore.
- Ather Energy is seeking $75-90 million in new funding to support its growth and operations.
- The company recently raised ₹286 crore from its founders and Stride Ventures through a mix of debt and equity funding.
- Ather Energy launched a new range of 'Rizta' scooters targeting the family segment.
- Ather Energy competes with major players like Ola Electric, TVS, and Bajaj in the electric scooter segment.
The bigger picture
- Ather Energy's recent financial results show a net loss of ₹864 crore in FY23, despite a 4.36X increase in revenue to ₹1,784 crore.
- The company's market share in May 2024 was 9.45%, with 6,024 units sold, compared to 37,191 units sold by Ola Electric.
About the business
- Ather Energy is an electric scooter maker based in Bengaluru, India.
- The company produces electric scooters and has launched a new range called 'Rizta' targeting the family segment.
- Ather Energy has raised ₹286 crore in recent funding from its founders and Stride Ventures.
- The company is seeking $75-90 million in new funding to support its growth and operations.
What happens next
- Ather Energy is seeking $75-90 million in new funding to support its growth and operations.
The deal
- Type
- stake-sale
Investors
- Hero MotoCorp (investor) — A leading two-wheeler manufacturer in India.
- Stride Ventures (investor) — A venture capital firm based in India.
- Sachin Bansal (seller) — Co-founder of Flipkart, one of India's largest e-commerce platforms.
- Nikhil Kamath (buyer) — Co-founder of Zerodha, a leading stock trading platform in India.
Founders
- Tarun Mehta, co-founder and CEO
- Swapnil Jain, co-founder
- Nikhil Kamath, co-founder of Zerodha
- Sachin Bansal, co-founder of Flipkart
Other articles talking about it
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- Ather Energy narrows loss, revenue jumps 89%6 August 2026 · Results
- Ather Energy to launch mass-market scooter Konarc29 July 2026 · Launch
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