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<ul><li><keyword id="19938729" type="General" weightage="20" keywordseo="ather-energy" source="keywords">Ather Energy</keyword> has filed draft papers for a ₹3,100 crore IPO with SEBI.</li><li>Ola Electric had raised ₹5,500 crore in its IPO in August.</li><li>Ather Energy plans to set up a new manufacturing facility in Maharashtra.</li></ul>Electric two-wheeler manufacturer Ather Energy has announced that it is going public and raising ₹3,100 crore in its initial public offering (IPO). The Tarun Mehta-led company has filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI). The proposed IPO includes a fresh issue of shares worth ₹3,100 crore and an offer for sale (OFS) component of 2.2 crore shares by promoters and investors. <keyword id="20253467" type="General" weightage="20" keywordseo="tarun-mehta" source="keywords">Tarun Mehta</keyword> and <keyword id="19993824" type="General" weightage="20" keywordseo="swapnil-jain" source="keywords">Swapnil Jain</keyword> will offload 10 lakh shares each. Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, Internet Fund III Pte Ltd and 3State Ventures Pte. Ltd are among the investors selling their shares. <div type="Article" hostid="261" msid="109128809" title="Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment" mstype="2" mssubtype="0"></div> Ather Energy’s IPO is nearly half of what its rival Ola Electric raised through its <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms">IPO</a> last month. This will make Ather Energy the second electric two-wheeler maker in India to go public. Ather Energy is backed by Hero MotoCorp, which has a 37.2% stake in the EV maker. Hero MotoCorp will not sell its shares in the IPO. Apart from Hero MotoCorp, Flipkart co-founders Sachin Bansal and Binny Bansal have also invested in Ather Energy. The EV maker will use the funds raised in the IPO to establish a manufacturing facility in Maharashtra and invest in research and development. The proposed manufacturing facility in Maharashtra will come up in Chattrapati Sambhaji Nagar district. The company currently has a manufacturing facility at Hosur, Tamil Nadu. Ather Energy sells four electric scooters: the 450S, 450X, 450 Apex and the recently launched <a href="https://www.businessinsider.in/business/auto/news/ather-rizta-electric-scooter-launched-in-india-starting-at-rs-109999/articleshow/109128809.cms">Rizta</a>, a family scooter. The company also sells products like the Halo smart helmet and other scooter accessories. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-iphone-16-pro-max-india-price-specifications/articleshow/113204340.cms">iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms">iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900</a> <a href="https://www.businessinsider.in/stock-market/news/shree-tirupati-balajee-agro-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113196203.cms">Shree Tirupati Balajee Agro IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI

<keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> is strengthening its team by hiring highly-qualified professionals and latest to join India’s largest e-commerce company is Tarun Jain. 
 A former <keyword id="6354616" type="CITY" weightage="20" keywordseo="Twitter">Twitter</keyword> executive, Jain, will head the products division of Flipkart’s online advertising business. 
 
Jain’s roles and responsibilities at Flipkart will include driving business strategy, product vision, roadmap, execution, partnerships and customer adoption. 
 
Jain, who worked with Twitter as the group product manager in the San Francisco Bay Area, has relocated to Bengaluru. 
 
He will report to Flipkart’s entrepreneur-in-residence Ravi Garikipati. 
 
"He (Jain) possesses deep understanding of the digital advertising solutions and we believe that his leadership will bring invaluable insights and contribute to the growth of ads group at Flipkart," said Garikipati. 
 
He has also worked with Google, where he built and scaled AdWords Express, Dynamic Ads, Google Offers and Google Shopping.

Former Twitter executive Tarun Jain joins Flipkart as products division head

Once a start-up itself, e-tailer giant Flipkart is now providing sufficient funding to new start-ups to help them realize their entrepreneurial dreams. Founders Sachin and <keyword id="6364080" type="PERSON" weightage="20" keywordseo="Binny-Bansal">Binny Bansal</keyword> have extended a funding of $1 million to <keyword id="2622993" type="UNKNOWN" weightage="20" keywordseo="Ather-Energy">Ather Energy</keyword>, an electric two-wheeler start-up attempting to gain a foothold in the country. 
 
Commenting on this funding, Tarun Mehta, co-founder of Ather Energy, said, ““We are very excited about this fresh round of funding. Sachin and Binny Bansal are leaders who have put India’s e-commerce industry on the global map through disruptive use of technology. Their focus on technology and reinvention aligns with that of Team Ather. Electric vehicles are still at a very nascent stage in India and our aim is to develop and introduce efficient electric scooters which will benefit the country and help manage its resources more effectively. We are extremely confident about this product and this funding is a reinforcement of our belief.” 
 
Reiterating a similar sentiment, Sachin and Binny Bansal said, “We believe that the world is moving towards a smarter, more energy-efficient and environment-friendly approach in our daily lives. Growing Indian start-ups like Ather are using technology successfully to make a mark in this field. We believe the team has the right vision and approach and will be successful in giving India the next generation of impactful, technology-enabled products that will change the way we live. We wish team Ather all the best for this project.” 
 
This is the second round of funding raised by Ather, which will be primarily utilised for the product development cycle. Earlier, the company had raised another round of capital from Aerospike and Technology Development Board, a government organisation, in February. 
 
The company (Ather) has also received investments from serial entrepreneur and CEO of Medall, Raju Venkatraman. The company was launched in January 2013 by Tarun Mehta and Swapnil Jain.

Electric Vehicle Start-up Ather Energy
Raises $1 Million From Flipkart

New Delhi, Jan 28 () Hero MotoCorp-backed Ather Energy plans to expand its operations to around 24 cities by the end of 2021-22 as it looks to cater to customers across the country, a top company official said on Tuesday.
 The company, which on Tuesday introduced its second electric scooter 450X, also plans to take its overall production capacity to 1.3 lakh units per annum by the end of FY22.
 With added sales infrastructure and new products, the company aims to touch revenue of Rs 1,800 crore by March 2022 from the expected Rs 540 crore in next fiscal.
 "With Ather 450X we are excited to be expanding across the country. This year we are starting operations in eight more cities and setting up retail partnerships across the country for the same," Ather Energy CEO and co-founder Tarun Mehta told reporters here.
 The company currently sells its first product Ather 450 in Chennai and Bengaluru and now plans to set up operations across the country, including Delhi/NCR, Mumbai, Pune and Hyderabad.
 "We have initiated bookings for the new model and the deliveries in the Delhi/NCR would begin by July," Mehta said.
 He added that the company has inked a pact with Tamil Nadu government to set up a new production facility at Hosur. Ather currently has a plant in Bengaluru.
 With the new plant getting operational over the next 6-9 months, the company would be able to raise its overall capacity to 1.3 lakh units in 2021-22, Mehta said. The company aims to have a capacity to roll out 30,000 in 2020-21 fiscal.
 "The enhanced capacity would help us to cut waiting periods for the two models," he added.
 Ather also plans to build charging infrastructure in cities where it plans to expand operations going ahead.
 When asked about the number of units sold so far, Mehta declined to comment saying the company has just started to scale up operations.
 Ather 450X is priced at Rs 99,000 (ex-showroom Delhi) if bought with two monthly subscription packs. The Plus subscription pack is priced at Rs 1,699 while Pro pack is tagged at Rs 1,999 per month.
 Without the said subscription packs, the Plus trim is priced at Rs 1.49 lakh while the Pro variant is tagged at Rs 1.59 lakh (ex-showroom Delhi).
 Ather 450X is a significant step-up from Ather 450 with improvements across multiple key parameters. The e-scooter comes with a 6kW motor, a new 2.9 kWh lithium-ion battery that comes mated with with four riding modes.
 The scooter can go from 0 to 40 kmph in just 3.3 seconds and real life range of 85 km in city conditions.
 Ather 450X comes with a 4G sim card and Wi-Fi along with Bluetooth connectivity, allowing riders to manage phone calls and music on the touch screen dashboard.
 The new touch screen dashboard comes with Snapdragon Quad Core processor. The scooter utilises Android Open Source to offer map navigation, on-board diagnostics and other unique features like over-the-air updates among others.
 Ather Energy was founded in 2013 by IIT Madras alumni Tarun Mehta and Swapnil Jain. Currently, it is backed by founders of Flipkart, Sachin Bansal and Binny Bansal, Hero MotoCorp and Tiger Global.
 The company launched its first electric scooter - Ather 450 in 2018. MSS RUJ
RUJ

Ather drives in second e-scooter;aims to scale up presence to 24 cities by FY22

As consumer sentiment runs high amid growing chorus for boycotting Chinese goods in the country, the fluid market situation offers new opportunities for various smartphone makers, especially the non-Chinese ones like Samsung, Apple, Nokia, Asus and others, to realign their strategies and regain the lost market share in the face of fierce Chinese competition. The challenge here would be not to look "opportunistic" and leverage the current explosive situation on just riding on the anti-Chinese sentiment but to offer real challenges in the form of top-end devices with solid internals at affordable price points, feel industry experts. "The current market conditions in India are fluid and open up new opportunities for smartphone original equipment manufacturers (OEMs) to focus and leverage," Prabhu Ram, Head-Industry Intelligence Group, CyberMedia Research (CMR), told IANS. In the first quarter (January-March) this year, Samsung's shipments were driven by its upgraded A and M series (A51, A20s, A30s, and M30s). According to Counterpoint Research, Samsung managed to hold third position in Q1 2020 due to launches across several price tiers, especially in the affordable premium segment (S10 Lite, Note 10 Lite). The South Korean smartphone maker last week announced a ₹4,000 price drop on its popular Galaxy Note10 Lite smartphone that will now cost ₹37,999 (6GB variant). Earlier this month, Samsung launched two new smartphones, Galaxy M11 and Galaxy M01, with powerful batteries under ₹15,000 in India. The Galaxy M11 comes in two variants. The 3GB+32GB will be priced at ₹10,999 while the higher 4GB+64GB variant will be available for ₹12,999. Samsung has also launched an affordable Galaxy A21s smartphone with quad-camera system and 5,000mAh battery at a starting price of ₹16,499. On the other hand, Apple grew a strong 78% year-on-year driven by strong shipments of iPhone 11 and multiple discounts on platforms like Flipkart and Amazon in Q1, according to Counterpoint. Apple has also brought its cheapest yet powerful new iPhone SE that costs ₹38,900 (64GB) in India with a special offer from HDFC Bank. The new iPhone SE is powered by the Apple-designed A13 Bionic, the fastest chip in a smartphone and features the best single-camera system ever in an iPhone. According to Tarun Pathak, Associate Director, Counterpoint Research, consumer sentiments are running high and a section of users will look for alternatives, benefitting global and Indian brands. "However, we do not think non-Chinese brands will run aggressive campaigns based on the situation as it might look like being opportunistic," Pathak told IANS. It may actually let brands of Chinese origin try to run aggressive campaigns on their presence and scale. "Some of these Chinese brands have been active in scaling up local value addition, creating jobs and investing in research and development," Pathak noted. On Saturday, market leader Xiaomi said that it is "more Indian" than any other smartphone brand. The company's India head Manu Kumar Jain said that the company's mobile phone R&amp;D centre and product team is in India, it employs 50,000 people in the country, the entire leadership team is Indian and that the company pays its taxes in India. Earlier, Realme India CEO Madhav Sheth who is also very active on social media said that Realme is an Indian startup. In his latest episode of 'Ask Madhav' series on YouTube, Sheth said: "I can proudly say Realme is an Indian startup, which is now a global MNC (multinational corporation)".

Can non-Chinese mobile brands leverage current consumer sentiment in India?

For startups to grow they must garner funds from investors; and to gather funds, startups need to have a robust product-market fit along with a promising team and a solid business plan with the potential to scale. Then comes the role of angel investors and <keyword id="6357097" type="COMPANY" weightage="100" keywordseo="venture-capital">Venture Capital</keyword> (VC) <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> that usually surfaces when larger amounts are required to grow a business. 
 Lately, major <keyword id="982553" type="UNKNOWN" weightage="100" keywordseo="Indian-startups">Indian startups</keyword> have seen a tremendous boost from venture capitalists. To start with, we saw how Tiger Global Management, Softbank Corp., Morgan Stanley, Sequoia Capital, Accel Partners, IDG Ventures India and SAIF Partners managed to support promising Indian startups like that of Flipkart, Snapdeal, Ola, Zomato, ShopClues, Urban Ladder and many others. Moreover, it is not only the bigger firms who are eyeing VC funds, relatively younger and smaller firms like OYO Rooms, Swiggy and Grofers have also joined the race. 
 Apart from ruling the e-commerce and fashion industry, <keyword id="153868" type="UNKNOWN" weightage="100" keywordseo="VC-funding">VC funding</keyword> is now gradually moving into other sectors too, such as agriculture, healthcare and education. As per the data from the upcoming Wharton India Economic Forum (WIEF), which is all set to launch the Wharton India Startup Competition (WISC) with over 500 entries, though majority of applicants (around 25%) belong to the e-commerce industry, the healthcare segment is not far away with around 22% applicants. Moreover, most of the participating startups already have pre-seeded and seeded funding arrangements and around 31% of them have listed themselves as social enterprises. 
 
The ecosystem for VC funding for Indian startups would be discussed at length at the Wharton India Economic Forum (WIEF). WIEF is a two-day event starting from January 6, 2017, which will bring together the best entrepreneurs, investors, distinguished Wharton faculty, students and inspirational speakers. Attendees will not only have numerous opportunities for interaction and networking across the board but will also witness in-depth discussions in terms of understanding the evolving business landscape in India and the need for business model innovation from the government, various industry leaders, and distinguished Wharton faculty. 
 
The relevance of this summit doesn’t end there. It is also known for hosting the Wharton India Startup Competition (WISC) which is giving Indian startups the opportunity to present themselves in front of an esteemed panel of judges and also win cash prizes of over $25,000 and unparalleled mentorship of up to 4 months from some of the most renowned names in the industry on strategy and funding. The jury for WISC comprises top-notch personalities with the likes of Bharati Jacob (Co-founder of Seedfund), Nipun Mehra (Investor at Sequoia Capital India), Rehan Yar Khan (Managing Partner of Orios Venture Partners), Tarun Davda (Managing Director of Matrix Partners), Aditya Nair (Investor at Nyca Partners), Ajay Hattangdi (CEO India &amp; Group COO of InnoVen Capital Group), Ankit Shah (Vice President at Unilazer Ventures), Sameer Verma (Director &amp; Junior Partner of Nexus Venture Partners), Saurabh Joshi (Strategy Manager at PayPal) and Shantanu Gangal (Head – Analytics at Fundbox). Also, past finalists of this prestigious event includes names such as Ketto, Haptik, Zoomcar, Zostel, Targeting Mantra, Qlicket, Samaan and Ambitioni. 
 
Needless to say, such competitions and summits go a long way in not only promoting upcoming startups but also in educating the audience and the participants regarding the funding scenario. Not many seem to be aware about the types and rounds of funding, the know-how of VC funding and even the right way to go about securing such funds, hence this is surely going to be one the most-sought after events at the start of the next year. 
 
(Image Credits: Thinkstock) 
 
(About the Author: This article has been authored by Aman Jain, Chairperson WIEF 2017)

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Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI

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Former Twitter executive Tarun Jain joins Flipkart as products division head

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Electric Vehicle Start-up Ather Energy Raises $1 Million From Flipkart

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Ather drives in second e-scooter;aims to scale up presence to 24 cities by FY22

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Can non-Chinese mobile brands leverage current consumer sentiment in India?

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