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Ather Energy CHRO Sunitha Lal resigns after eight years

Economic Times

Economic Times · 2m ago

Ather Energy CHRO Sunitha Lal resigns after eight years

Sunitha Lal, the Chief Human Resources Officer of Ather Energy, resigned after more than eight years to explore other interests. During her tenure, she helped build the organization from the ground up, developing its culture and people practices. Lal's background includes roles at AIG Systems Solutions and Mphasis. Meanwhile, Ather Energy reported a narrowed net loss of Rs 234.4 crore in Q4 FY25, attributed to increased volumes and improved margins for the electric vehicle manufacturer.

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BharatPe CMO Parth Joshi resigns after over 3 years

Inshorts · 6m ago

BharatPe CMO Parth Joshi resigns after over 3 years

BharatPe Chief Marketing Officer Parth Joshi has resigned after over three years at the company. "Parth Joshi has decided to embark on his entrepreneurial journey, and we respect his decision," the company's spokesperson said. In December last year, BharatPe also announced the exit of its CHRO Smriti Handa and Chief Data Scientist Ritesh Mohan Srivastava.

Storage system must to meet clean energy targets, says Manohar Lal

Economic Times

Economic Times · 1m ago

Storage system must to meet clean energy targets, says Manohar Lal

Power Minister Manohar Lal highlighted the necessity of an energy storage system to achieve clean energy goals, stabilize the grid, and provide continuous electricity. Over the past years, storage costs dropped drastically from ₹10 lakh/MW to ₹2.5 lakh/MW monthly. With shifts towards green hydrogen, India aims for energy independence. Current battery energy storage is 205 MW; new storage projects will increase capacities significantly by 2031-32, with a focus on hydro pumped storage projects reaching 50 GW in upcoming years.

Claris founding family's waste-to-energy firm Abellon taps offshore investor

VCCircle

VCCircle · 1y ago

Claris founding family's waste-to-energy firm Abellon taps offshore investor

Claris Waste Management, founded by the family behind Claris Lifesciences, is receiving funding from a foreign investor. The company, led by Arjun and Aditya Handa, is seeking capital for its waste-to-energy business. This investment comes almost eight years after the group sold its flagship business.

Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath

Economic Times

Economic Times · 1y ago

Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath

Flipkart co-founder Sachin Bansal has sold his remaining 7.5% stake in electric scooter manufacturer Ather Energy. Bansal sold a 2.2% stake to Hero MotoCorp for INR 124 crore and the rest to Zerodha co-founder Nikhil Kamath. Bansal had previously invested around INR 400 crore in Ather Energy. Hero MotoCorp's inferred valuation for the latest stake purchase was INR 5,636 crore. After this transaction, Hero MotoCorp now holds about 40% of Ather's total shareholding. Ather Energy recently raised INR 286 crore ($34 million) in funding and plans to raise between $75-90 million in the next round.

Amazon India head Manish Tiwary resigns, successor yet to be named

VCCircle

VCCircle · 1y ago

Amazon India head Manish Tiwary resigns, successor yet to be named

Manish Tiwary, the head of Amazon India, has resigned after eight years with the company. His departure comes as Amazon plans to invest $26 billion in India by 2030 but faces strict regulatory challenges. Tiwary's successor has not been named yet. Amit Agarwal, senior vice president for emerging markets, will continue to be closely involved with the India team as the company focuses on the Indian market. Amazon is currently facing an antitrust investigation for alleged favoritism towards certain sellers on its India platform.

Exclusive: Ather Energy Converts Into A Public Entity As IPO Plans Gather Steam

Inc42 · 1y ago

Exclusive: Ather Energy Converts Into A Public Entity As IPO Plans Gather Steam

Ather Energy, the electric vehicle startup, has announced its decision to convert from a private company to a public company. The company has renamed itself Ather Energy Ltd from Ather Energy Pvt Ltd. It is now focused on preparing for its Initial Public Offering (IPO) which is expected to take place in the second half of this year. Ather Energy has reportedly hired HSBC Holdings, Nomura Holdings, and JP Morgan Chase & Co to assist with its IPO.

EV company Exponent eyes $25 million at $100-120 million valuation

Economic Times

Economic Times · 1y ago

EV company Exponent eyes $25 million at $100-120 million valuation

EV fast charging startup Exponent Energy is set to close its funding round, raising $25 million at a valuation of $100-120 million. The round will be led by Eight Roads, with participation from existing investors Lightspeed India and AdvantEdge VC. The funds will be used to expand the charging infrastructure into more cities and enhance the battery portfolio for additional use cases. Exponent Energy, founded by former Ather Energy executives, developed a technology to fully charge a vehicle in 15 minutes. The company plans to expand into Delhi, Mumbai, Chennai, Hyderabad, and Ahmedabad.

Ather Energy posts Rs 1,784 Cr revenue in FY23, losses surge 2.5X

Entrackr

Entrackr · 1y ago

Ather Energy posts Rs 1,784 Cr revenue in FY23, losses surge 2.5X

Electric scooter manufacturer Ather Energy has reported significant revenue growth, reaching Rs 1,784 crore in the fiscal year ending March 2023. The company also secured Rs 1,500 crore ($185 million) in funding during the same period. Despite the growth in revenue, Ather Energy experienced increased losses, with cash outflows from operations reaching Rs 870 crore in FY23. The sale of scooters was the primary source of revenue, with additional income from after-sale and subscription services.

Ather Energy Eyes INR 4,500 Cr IPO, To File DRHP Next Week

Inc42 · 11m ago

Ather Energy Eyes INR 4,500 Cr IPO, To File DRHP Next Week

Ather Energy is planning to raise $2.5 billion through its IPO, combining a fresh issue and an offer for sale. This move follows the successful IPO of its competitor, Ola Electric. Ather recently entered the unicorn club after securing $71 million from its existing investor, the National Investment and Infrastructure Fund, valuing the company at $1.3 billion.

Zerodha co-founder Nikhil Kamath to invest in Ola Electric-rival Ather Energy: Report

IndianStartupNews

IndianStartupNews · 1y ago

Zerodha co-founder Nikhil Kamath to invest in Ola Electric-rival Ather Energy: Report

Zerodha's Co-founder, Nikhil Kamath, is set to invest in Ather Energy, an EV maker competing with Ola Electric. The investment will be a secondary share sale, with Nikhil acquiring existing investors' shares in the company. Ather Energy recently raised Rs 900 crore in funding and offers electric two-wheelers such as the 450S and 450X models. Notable investors in Ather Energy include Hero MotoCorp, GIC, and Sachin Bansal.

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