Ather enters unicorn lane with $71 million from govt’s NIIF

Electric scooter maker Ather Energy has cruised into the unicorn league after closing a Rs 600-crore ($71 million) funding from existing investor National Investment and Infrastructure Fund (NIIF), multiple people briefed on the matter said. Post the funding, Ather has been valued at $1.3 billion, or about Rs 10,900 crore, they said.

It is the country’s fourth unicorn this year and second in the mobility space after Rapido, which closed a $120-million funding from WestBridge Capital at a post-money valuation of $1 billion, as ET reported on July 29.