Ather Energy Private Limited announced that it has received INR 9.92 billion in funding from Hero MotoCorp Limited, National Investment and Infrastructure Fund Limited and other investors

On May 12, 2022, Ather Energy Private Limited closed the transaction. The company announced it has amended the terms of the transaction and has now raised INR 9,920,000,000 in the transaction led by NIIF Strategic Opportunities Fund, a fund managed by new investor National Investment and Infrastructure Fund Limited and existing investor Hero MotoCorp Limited for INR 4,200,000,000. The transaction also included participation from other existing investors, including angel founders through minor investments.

The company signed the investment agreement with the investors. Post closing Hero MotoCorp Limited will own 35% stake in the company on a fully diluted basis.