Electric Vehicle Start-up Ather Energy Raises $1 Million From Flipkart

Electric Vehicle Start-up Ather Energy
Raises $1 Million From Flipkart
Once a start-up itself, e-tailer giant Flipkart is now providing sufficient funding to new start-ups to help them realize their entrepreneurial dreams. Founders Sachin and Binny Bansal have extended a funding of $1 million to Ather Energy, an electric two-wheeler start-up attempting to gain a foothold in the country.

Commenting on this funding, Tarun Mehta, co-founder of Ather Energy, said, ““We are very excited about this fresh round of funding. Sachin and Binny Bansal are leaders who have put India’s e-commerce industry on the global map through disruptive use of technology. Their focus on technology and reinvention aligns with that of Team Ather. Electric vehicles are still at a very nascent stage in India and our aim is to develop and introduce efficient electric scooters which will benefit the country and help manage its resources more effectively. We are extremely confident about this product and this funding is a reinforcement of our belief.”

Reiterating a similar sentiment, Sachin and Binny Bansal said, “We believe that the world is moving towards a smarter, more energy-efficient and environment-friendly approach in our daily lives. Growing Indian start-ups like Ather are using technology successfully to make a mark in this field. We believe the team has the right vision and approach and will be successful in giving India the next generation of impactful, technology-enabled products that will change the way we live. We wish team Ather all the best for this project.”

This is the second round of funding raised by Ather, which will be primarily utilised for the product development cycle. Earlier, the company had raised another round of capital from Aerospike and Technology Development Board, a government organisation, in February.

The company (Ather) has also received investments from serial entrepreneur and CEO of Medall, Raju Venkatraman. The company was launched in January 2013 by Tarun Mehta and Swapnil Jain.