Last month, the Bengaluru-based electric scooter maker entered the unicorn club with a funding of $71 million from the National Investment and Infrastructure Fund.
India’s competition watchdog on Sunday approved a proposal by government-backed National Investment and Infrastructure Fund (NIIF) to acquire an additional stake in electric scooter manufacturer Ather Energy, according to a report in Business Standard.
“The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather,” the Competition Commission of India (CCI) said in its order.
Last month, Ather became a unicorn—a startup valued at or more than $1 billion—after a funding of Rs 600 crore (around $71 million) from NIIF, an existing investor. It first invested in the electric two-wheeler manufacturer in May 2022. …
Disha is a writer at The Morning Context. She has previously worked at the digital production desk of Reuters. Prior to that, she was a sub-editor at Deccan Herald.
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