Zerodha Cofounder Nikhil Kamath to Invest in Ather Energy

 

Nikhil Kamath, the cofounder of Zerodha, a prominent Indian stock brokerage firm, is poised to become part of the investor base of Ather Energy, a leading electric two-wheeler manufacturer. The investment, expected to take the form of a secondary share sale, will see Kamath join Ather Energy's captable, although specific financial details have not yet been disclosed.

This development follows closely on the heels of Ather Energy's successful INR 900 crore (approximately $108 million) rights issue. The infusion of capital from this rights issue has provided a substantial financial boost to the electric vehicle manufacturer, enhancing its ability to further its mission of sustainable mobility solutions.

Ather Energy has witnessed remarkable growth in recent times, with its revenue surging from INR 408.5 crore in FY22 to INR 1,806 crore in FY23. This impressive revenue expansion reflects the increasing demand for electric two-wheelers in India and the company's commitment to delivering high-quality, environmentally friendly mobility solutions.

Nikhil Kamath's decision to invest in Ather Energy aligns with his broader involvement in the Indian startup ecosystem. He has previously supported various startups in India, including Nazara, Licious, and Third Wave Coffee, demonstrating a keen interest in innovative and promising ventures across different sectors.

As electric mobility gains momentum in India and around the world, Ather Energy remains at the forefront of this transformative industry. The investment by Nikhil Kamath is expected to further strengthen the company's position and support its mission of creating sustainable, electric transportation solutions that contribute to a greener and cleaner future.