WITH INDIA targeting 80% of its two wheelers to go green by 2030, Ather Energy is in a sweet spot. Launched in 2013 by IITians Tarun Mehta and Swapnil Jain as an idea around battery technology for electric two-wheelers, the company pivoted towards building vehicles backed by smart technology by mid 2014. It launched its first two models 340 and 450 in 2018, and the flagship Ather 450X in 2020, followed by the third generation 450X in 2022. The focus has been on premium design, safety and android technology.
Ather Energy operates in over 80 cities, including Bengaluru, Chennai and Mumbai. It secured its series E funding of $128 million last year led by National Investment and Infrastructure Fund Ltd. and Hero MotoCorp. Revenues increased 5x to ₹408 crore in FY22 against a year ago. It has over 1,200 ‘Ather Grids’ — fast-charging points across the country. — Rukmini Rao