Ather was founded by Tarun Mehta, Swapnil Jain and Satish Dundur in 2013, it is an Indian electric vehicle company, headquartered in Bangalore. In general this company manufactures two electric scooters - the Ather 450X and the Ather 450 Plus.
In early 2014, it received US$56,000 from the Technology Development Board under Department of Science and Technology, IIT Madras and Srini V Srinivasan, IIT alumnus and founder of Aerospike. In December 2014, Flipkart founders, Sachin Bansal and Binny Bansal invested $1 million as the seed capital. In May 2015, it received 12 million from Tiger Global for investments in development, testing, production and the launch of the vehicle. Gradually this company started to receive more funding and their successful production continues to go forward.
In May 2019, Ather Energy raised $51 million in another round of funding, led by Sachin Bansal's investment of $32 million. Hero MotoCorp converted its convertible debt of $19 million as a part of this round. In addition to this, InnoVen Capital extended an $8 million venture debt. The company added two new products to its portfolio, the Ather 450X and the Ather 450 Plus in January 2020. With this new product lineup and with the help of Hero motocorp and previous investors this company is now doing well in not only India, but also exporting their products in neighbor countries like Bangladesh and others.