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vishakha Jangir
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Set2Score • 4h
𝗛𝗼𝘄 𝘁𝗵𝗲 𝗳𝗼𝘂𝗻𝗱𝗲𝗿𝘀 𝗳𝗿𝗼𝗺 𝗜𝗜𝗧 𝘁𝗼𝗼𝗸 𝗼𝗻 𝘁𝗵𝗲 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲 𝗼𝗳 𝗯𝗿𝗶𝗻𝗴𝗶𝗻𝗴 𝘀𝗺𝗮𝗿𝘁 𝗲𝗹𝗲𝗰𝘁𝗿𝗶𝗰 𝘀𝗰𝗼𝗼𝘁𝗲𝗿𝘀 𝘁𝗼 𝗿𝗲𝗽𝗹𝗮𝗰𝗲 𝗰𝗼𝗻𝘃𝗲𝗻𝘁𝗶𝗼𝗻𝗮𝗹 𝗜𝗖 𝗲𝗻𝗴𝗶𝗻𝗲 𝘃𝗲𝗵𝗶𝗰𝗹𝗲𝘀 ? Ather Energy was founded in 2013 by Tarun Mehta and Swapnil Jain (IIT Madras alumni), headquartered in Bengaluru, Karnataka. It started with the vision of building smart, connected electric scooters for urban commuting; the first prototype Ather S340 was unveiled in 2016. Key models include Ather 450X, 450X Pro, 450S, 450 Apex, and the family-oriented Rizta. Manufacturing facilities are located in Whitefield (Bengaluru) and Hosur (Tamil Nadu); a new plant is planned in Maharashtra to expand production. Ather has built Ather Grid, a fast-charging network with over 1,000 stations across 80+ cities. It operates a direct-to-consumer model through experience centers (Ather Space) and online sales, offering over-the-air (OTA) updates for continuous scooter improvements. FY24 revenue stood at ₹1,753.8 crore, but the company has reported losses due to heavy investments in R&D and infrastructure. Ather's market share grew from 11% to 15% in the electric two-wheeler segment by Q4 FY25, boosted mainly by the success of the Rizta scooter. In April 2025, Ather launched its IPO to raise ₹2,981 crore with a price band of ₹304–₹321 per share, valuing it at approximately $1.4 billion (lower than earlier expectations). Major stakeholder Hero MotoCorp (40% ownership) did not sell shares during the IPO. The company plans to expand strongly in northern and western India, using IPO proceeds for scaling up. Follow vishakha Jangir for more such business insights.
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