Ather Energy
Ather Energy is an Indian electric vehicle manufacturer headquartered in Bengaluru, Karnataka. Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather Energy designs and manufactures premium electric scooters, including the Ather 450 Apex, Ather 450S, Ather 450X, Ather 450X Pro, and Ather Rizta. The company also operates Ather Grid, India’s largest two-wheeler electric vehicle charging network. Ather Energy is the fourth-largest electric two-wheeler manufacturer in India, trailing Ola Electric, TVS Motor Company, and Bajaj Auto.[1] It went public on May 6, 2025, through an initial public offering (IPO) valued at ₹4500 crore.[2]
 | |
| Company type | Private |
|---|---|
| Industry | Automotive • Electric vehicle |
| Founded | 2013 |
| Founders | Tarun Mehta • Swapnil Jain |
| Headquarters | Bengaluru, Karnataka, India |
Key people | Tarun Mehta (CEO) • Swapnil Jain (CTO) |
| Products | Electric scooters • Charging infrastructure |
| Revenue | ₹1788 crore (FY 2023) |
Number of employees | 1500+ As of May 2025[update] |
| Website | www |
History
Ather Energy was established by Tarun Mehta and Swapnil Jain, graduates of IIT Madras, with a vision to create high-performance, connected electric scooters for the Indian market.[3] The company unveiled its first prototype, the Ather S340, in 2016, featuring a touchscreen dashboard and lithium-ion battery pack.[4] Ather launched its first product, the Ather 450, in Bengaluru in September 2018.[5]
In January 2020, Ather introduced the Ather 450X and Ather 450 Plus, enhancing performance and connectivity features.[6] The Ather Rizta, a family-oriented scooter, was launched in April 2024 during Ather Community Day.[7] Ather expanded its manufacturing with a facility in Hosur, Tamil Nadu, operational since January 2021, and announced a third facility in Aurangabad, Maharashtra, in 2024 with a ₹2000 crore investment.[8]
Products
Ather Energy manufactures the following electric scooters:
- Ather 450 Apex: Limited-edition model with a top speed of 100 km/h and 157 km range.
- Ather 450S: Features a 5.4 kW motor, 115 km range, and 90 km/h top speed.
- Ather 450X: Offers a 6 kW motor, 146 km certified range, and connected features like a 7-inch touchscreen dashboard.
- Ather 450X Pro: Enhanced version of the 450X with additional performance features.
- Ather Rizta: Family scooter with a 3.7 kWh battery, 160 km range, and 34L storage.[7]
All scooters feature over-the-air (OTA) updates, with 13 updates rolled out by 2020.[9] Ather’s scooters integrate with the Ather mobile app for charging status, navigation, and theft detection.[1]
Ather Grid
Ather Grid is India’s largest electric two-wheeler charging network, with over 1000 fast-charging points across 80+ cities as of May 2023.[10] The DC-fast-charging stations use Ather’s proprietary connector, charging at 1 km/min, and include a 3-pin socket for other EVs via the Ather Grid app. Ather also provides home charging units for overnight charging.[10]
Funding
Ather Energy has raised significant capital to support its growth and infrastructure development. The company filed for a ₹4500 crore IPO in September 2024, listing on May 6, 2025.[2] Below is a summary of its funding history:[4][11][12]
| Date | Round | Amount | Lead Investor | Other Investors |
|---|---|---|---|---|
| Early 2014 | Seed | ₹4.5 million | Technology Development Board, IIT Madras | Srini V Srinivasan |
| December 2014 | Seed | $1 million | Sachin Bansal, Binny Bansal | Raju Venkatraman |
| May 2015 | Series A | $12 million | Tiger Global | - |
| May 2019 | Series B | $51 million | Sachin Bansal ($32 million) | Hero MotoCorp ($19 million), InnoVen Capital ($8 million) |
| July 2020 | Series C | $11.4 million | Hero MotoCorp | - |
| November 2020 | Series D | ₹260 crore | Sachin Bansal (₹170 crore) | Hero MotoCorp ($12 million) |
| September 2024 | IPO | ₹4500 crore | Public | - |
Legal Entity Details
Ather Energy is operated by Ather Energy Private Limited. Its registered address is: 3rd Floor, Tower D, IBC Knowledge Park, Bannerghatta Main Road, Bengaluru, Karnataka, 560029, India.[13]
Reception and Challenges
Ather Energy has been praised for its design-led, software-first approach, with the Ather 450 series recognized as India’s first connected scooters.[14] The company faced a setback in May 2022 when a fire broke out in a Chennai showroom due to water damage in a scooter’s battery pack.[3] Ather has partnered with organizations like Vaidya Energy in Nepal to expand sales and charging infrastructure internationally.[3]
Expansion and Future Plans
Ather operates over 175 experience centers across 96 cities in India and plans to expand its charging network further.[10] The Aurangabad facility, set to create 4000+ jobs, aims to boost production capacity.[8] Ather’s mission focuses on connected, electric mobility, with ongoing exploration of energy storage and distribution solutions.[3]
References
- ↑ 1.0 1.1 "Ather Energy Company Profile Funding & Investors". YourStory. 2022-07-31. Retrieved 2025-05-08.
- ↑ 2.0 2.1 @_soumyajit37 (2025-05-06). "Ather Energy lists over 2% higher than its IPO price". X. Retrieved 2025-05-08.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ↑ 3.0 3.1 3.2 3.3 "Ather Story: Founders". StartupTalky. 2025-02-04. Retrieved 2025-05-08.
- ↑ 4.0 4.1 "The story behind India's first smart electric scooter". YourStory. 2016-02-03. Retrieved 2025-05-08.
- ↑ "Ather Energy launches electric scooter Ather 450 in Bengaluru". The Economic Times. 2018-09-05. Retrieved 2025-05-08.
- ↑ "Ather 450X, Ather 450 Plus electric scooters launched". Financial Express. 2020-01-28. Retrieved 2025-05-08.
- ↑ 7.0 7.1 "Ather Rizta electric scooter launched at Rs 1.10 lakh". Autocar India. 2024-04-06. Retrieved 2025-05-08.
- ↑ 8.0 8.1 @IndianTechGuide (2024-06-26). "Ather Energy chooses Maharashtra for 3rd manufacturing facility". X. Retrieved 2025-05-08.
- ↑ "Ather Energy rolls out OTA updates for its electric scooters". YourStory. 2020-12-15. Retrieved 2025-05-08.
- ↑ 10.0 10.1 10.2 "Ather Energy expands charging network to over 1000 points". Business Standard. 2023-05-17. Retrieved 2025-05-08.
- ↑ "Ather Energy raises $51 million in funding led by Sachin Bansal". The Economic Times. 2019-05-28. Retrieved 2025-05-08.
- ↑ @exencial_RP (2025-05-06). "Will Investors Back Ather's Electric Ambitions?". X. Retrieved 2025-05-08.
- ↑ "Contact Us". Ather Energy. Retrieved 2025-05-08.
- ↑ @rohitmal (2025-05-08). "Ather Energy is building India's most premium EV 2W brand". X. Retrieved 2025-05-08.