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Ather Energy Raises $128 Million In A Fresh Round Of Funding

Bengaluru-based Ather Energy has announced that the company raised $128 million or about Rs. 992 crore in the latest Series E round of funding. The latest investment round was led by National Investment and Infrastructure Fund Limited's Strategic Opportunities Fund, along with Hero MotoCorp, one of the early investors in the electric two-wheeler maker. Hero MotoCorp already has a 34 per cent stake in Ather Energy. Ather says the funding will be used to expand its manufacturing facilities, invest in research and development, charging infrastructure and grow its retail network. Ather is in the process of opening its second manufacturing facility, while the company also plans to introduce two new variants of the 450X later this year. Ather is also aiming to begin exports from its facility and plans to establish 150 outlets in 100 cities by 2023 across India.

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