Currently into the designing of a smart electric two wheeler, Ather Energy, a Bangalore based startup has received US $12 million (INR 75.33 crore) from Tiger Global. This funding will be directed towards developing, testing and production of their Ather S340 electric scooter project, which Mehta and Jain are sure will be a resounding success.
Ather S340 is a connected vehicle powered by a lithium ion battery pack. It receives a digital touch screen dashboard, possesses a light weight aluminium chassis and is slated to command a top speed of 75 kmph. To be totally designed and produced by Ather, the new electric scooter will be the first connected vehicle in the country. Ather S340 will allow all vehicle data to be logged and monitored while issuance of vehicle maintenance will be an added feature.
The startup company is of the opinion that their new connected electric vehicle will compete with any petrol or electric two wheeler currently on sale in India, when it is launched in 2016. Tiger Global is not the first company to invest in this start-up. Back in December 2014, e-retail giant, Flipkart too had invested in this venture.
Lee Fixel from Tiger Global said, “We are impressed with Ather’s vision of building smart electric vehicles that has a potential to revolutionise the driving experience. We see great potential in Ather’s product offering and the technology and are confident that their maiden launch will attract tremendous positive response. We look forward to partnering with the Ather team and bring their vision to fruition.”
This fresh investment will allow the company to further develop the product, readying it for launch. Test rides are expected to commence this October with launch of Ather S340 planned for early 2016 in Bangalore, Chennai and Delhi.