Tuesday, March 28, 2023

Ether Energy got funding of Rs 991 crore for Series E, know what will happen to all these rupees?

Ather Energy has become a strong company in the electric two-wheeler segment. The company has sold 3,779 units in April, the first month of the new financial year. This is also the record sale of the company in any month. Bookings for the Ether 450X have increased 25% on a quarterly basis. The company currently has 38 retail stores in 32 cities. The company plans to open 150 retail stores in 100 cities by 2023. The company, meanwhile, has raised डॉलर 128 million (about Rs 991 crore) for the Series E.

Many companies have invested in Ether Energy
Aether has signed investment agreements with its major shareholders National Investment and Infrastructure Fund Limited (NIIFL), Strategic Opportunities Fund (SOF), Hero MotoCorp and additional investors. So far, Aether Energy has financed more than 23 230 million. Sachin Bansal, co-founder of Tiger Global and Flipkart, is also an investor.

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Hero MotoCorp has the highest investment
Hero MotoCorp has invested 56 56 million (about Rs 420 crore). Most of the remaining amount has been invested by NIIFL. Other existing investors, including the Angel founders, further boosted the round with modest investments. Hero MotoCorp is currently the largest investor. Ether Energy plans to remain independent with the investor goals associated with the initial public offering (IPO).

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The company will expand its portfolio
The company said it would use the money to develop its retail network with manufacturing facilities, research and development, and charging infrastructure. Tarun Mehta, Chief Executive Officer (CEO) of Aether Energy, said, “We are delighted to be joined by National Investment and Infrastructure Fund Limited (NIIFL) as an investor. Is at the forefront of giving. ”


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