The largest two-wheeler manufacturer and seller of India, Hero Motocorp has invested Rs.180 crore in the Electric Auto motive startup- Ather Energy. This investment is the largest investment that Indian market has seen in a startup.
The two-wheeler giant got the approval of investing upto Rs. 205 crore into the Bengaluru based startup on Wednesday. The company Hero Motocorp currently can hold upto 26-30 per cent of the stakes of the start up.
Ather Energy is a three year old starts up and has topped the charts and ranked the first in the startup category to raise such a big amount including Sachin Bansal- Flipkart and many others, till date.
The startup is the idea of the IIT madras’s alum- Tarun Mehta and Swapnil Jain.
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