Jobaaj Stories
Nikhil Kamath, co-founder of Zerodha, one of India's leading online trading platforms, has agreed to join Ather Energy's journey. Ather Energy, a prominent player in the electric two-wheeler sector, is experiencing rapid growth and expansion.
Ather Energy recently raised INR 900 Crore (approximately $108 million) in a rights issue, with key investors including Hero MotoCorp and Singapore's GIC. Hero MotoCorp, which already owns 33.1% of Ather Energy, has committed to investing up to INR 550 crore in the EV startup's rights issue.
Ather Energy's financial performance has been exceptional, with revenue increasing from INR 408.5 Crore in FY22 to an unbelievable INR 1,806 Crore in FY23. The Ather 450X and Ather 450S are the company's two core products, and the company has ambitious plans to expand its product portfolio.
Kamath's investment in Ather Energy follows his INR 100 crore investment in the online gaming startup Nazara Technologies. He has also expressed interest in startups such as Licious and Third Wave Coffee Roasters, demonstrating his commitment to fostering innovation and growth across multiple industries.
As Ather Energy faces challenges as a result of the removal of government subsidies for electric vehicles, this capital infusion and support from key investors such as Nikhil Kamath will be critical in propelling the company forward in the competitive electric two-wheeler market. The specifics of Kamath's investment have yet to be disclosed, but this collaboration bodes well for both Ather Energy and India's electric mobility industry.
