Ather Energy, an Indian electric vehicle company, has completed with $51 million in a new financing round.
The company secured the new funds from existing investors, Hero MotoCorp, Flipkart founder Sachin Bansal and Tiger Global Management.
Ather said that it will use the money raised from the financing, which has brought Ather’s valuation to around $400 million, to scale up the company.
Furthermore, the company intends to hit a production capacity of 20,000 scooters annually by early 2020.