Ather Energy has received $12m funding from Tiger Global, one of the world’s leading venture capitalists.
The new round of funding will be used for development, testing, production and the launch of Ather’s first smart electric two-wheeler, the Ather S340. Founded by Tarun Mehta and Swapnil Jain, the company was incubated for developing a smart electric two-wheeler that would compete best in the market. While the Indian electric two-wheeler segment is still in the nascent stage, the striking S340 could make a big difference in the Indian market.
Ather hasn’t disclosed much about this electric two-wheeler scooter but has been marketing it as a high-speed vehicle. It has a top speed of 75kmph, which is really good for an electric scooter of this size. Once launched, it will be 20 per cent lighter than the current petrol scooters, thanks to the battery pack which tips the scale at just 15kgs. This battery charges eight times faster, with 80 per cent charge being done under one hour. The scooter can do 0-60kmph in 11 seconds and features an android-powered instrument cluster.
Ather is currently at an advanced stage of integration on the vehicle platform and testing of the functional prototype. Test rides are scheduled for October this year and the company is already seeing an increasing number of sign-ups for the same on their website. The Ather-S340 is planned for launch in Bangalore, Chennai and Delhi by early 2016.