Oct 29, 2018

Flipkart Co-founder to Invest In EV Startup - Ather Energy

There are chances that Flipkart co-founder Sachin Bansal might invest $50 to $100 million in Ather Energy which is said to an EV startup. It was believed in the month of August, that he was planning to start his entrepreneurial adventure in the field of artificial intelligence mostly by the end of this year.

Flipkart was started by Sachin Bansal along with Binny as an online books store in the year 2007. Now it seems to have grown into one of the largest e-commerce platforms in India.

Ather Energy has launched earlier this year in the month of June. It is expected that the Indian electric two wheeler market is said to grow at about 23% from the year 2018 to 2023.

Recently in the month of October, Kymco announced an investment of about $65 millionn in haryana based electric scooter startup Twenty Two Motors Pvt. Flipkart's investment in Ather seems to be a positive development for the industry.
Read more at inc42.com

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