Caladium Investment led Rs 400.6 Cr funding round for Ather Energy, an electric scooter manufacturer. This is the Bengaluru-based company’s second equity round in 2022.
Caladium Investment led the round with a Rs 400 crore investment, while Herald Square Ventures contributed Rs 64 lakhs. The new capital appears to be an extension of the $128 million Series E round led by NIIF’s SOF and Hero MotoCorp in May of this year. Ather Energy is likely to raise more funds in this round and join the unicorn club in the near future.
According to a regulatory filing with the Registrar of Companies (RoC), the board of Ather Energy approved a special resolution to issue 51,359 Series E1 CCPS at a price of Rs 78,008 per share in order to raise Rs 400.6 crore, or $50 million.
In terms of funding, the electric vehicle ecosystem is shaping up to be one of the best in 2022. Aside from $128 million in Ather and a $200 million round in Ola Electric, which valued it at $5 billion, Euler, Ultraviolette, Yulu, Altigreen, and River all received significant funding.
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