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Zerodha's Nikhil Kamath buys large portion of Sachin Bansal's holding in Ather Energy: Report

IndianStartupNews · 1y

Bengaluru-based EV startup Ather Energy is set to raise between $75 million and $90 million through primary and secondary share sales. Nikhil Kamath, co-founder of Zerodha, has purchased a substantial proportion of Sachin Bansal's shares in Ather Energy. Bansal is a co-founder of Flipkart and an early investor in the electric vehicle (EV) firm. Ather Energy aims to achieve a valuation of $850 million to $1 billion and is actively engaging with existing and new investors to reach its financial targets. The company recently launched its new electric scooter range and plans to expand production to meet rising demand. Other players in the EV market, such as Ola Electric, are also gaining momentum.