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Ather Energy Joins Unicorn League with $71 Mn Funding from NIIF

  • Ather Energy, an electric two-wheeler manufacturer, secured $71 Mn (INR 600 Cr) from National Investment and Infrastructure Fund (NIIF), valuing the company at $1.3 Bn post-money.
  • NIIF was an investor in Ather's Series E round, which raised $128 Mn alongside Hero MotoCorp and others.
  • Ather Energy is planning a public listing by the end of 2024, targeting a valuation of around $2 Bn.
  • The company reported a net loss increase of 22.5% to INR 1,059.7 Cr in FY24, while revenue from operations slightly rose to INR 1,789.10 Cr.
  • Ather joins India's unicorn club, following recent entries like Krutim AI, Perfios, and Rapido.

Source: Inc42

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  • Ather Energy has filed for an IPO, aiming to raise about ₹3,100 crores through fresh shares and offers for sale.
  • In FY24, Ather reported revenues of ₹1,700 crores but faced losses of ₹1,000 crores, partly due to reduced FAME subsidie...
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