Ather Energy was founded in 2013 by Swapnil Jain and Tarun Mehta. In January 2023, CEO Mehta told reporters that an IPO is "on the horizon but [I] can't give an exact time. It's not happening this year."
Ather Energy, based in Bangalore, India, is the manufacturer of electric scooters powered by lithium-ion batteries. The company maintains a wide network of charging stations and support facilities in cities across India. The company has raised more than $340 million in venture capital funding from investors including Herald Ventures, Caladium Investments, NIIF, and HeroMotoCorp. Following a $128 million funding round in 2022, Mehta declined to offer valuation figures, but told reporters that the company has not yet achieved a $1 billion valuation.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
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The stock price for Ather Energy will be known as it becomes public. Here are similar public companies: Tesla (NAS: TSLA), Rivian (NAS: RIVN), Ford (NYS: F), Uber (NYS: UBER), Lyft (NAS: LYFT).
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Ather Energy is a private company and not publicly traded.
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