Ather Energy, the electric scooter manufacturer, secured INR 286 crore (USD 34 million) in funding from its founders and Stride Ventures through a combination of debt and equity.
Founders Tarun Mehta and Swapnil Jain contributed INR 86 crore via series F compulsorily convertible preference shares, while Stride Ventures provided INR 200 crore through series C3 debentures, according to documents Ather filed with the Registrar of Companies.
In April 2024, Ather Energy introduced its latest family scooter, the Rizta, at the Ather Community Day event in Bengaluru. Priced at INR 1,09,999 (Ex-showroom Bengaluru), the Rizta is designed to meet the needs of families.
Tarun Mehta, Ather Energy’s co-founder and CEO, expressed confidence in the Rizta, stating, “This could be a game-changer for Ather, surpassing the success of the 450 model.”
