Flipkart founders invest 6 crores in Ather, an electric 2-wheeler startup

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Flipkart, which started as a book selling website back in 2007 is today a billion dollar enterprise. However, founders of the enterprise, Sachin and Binny Bansal, who are both alumni of IIT, Delhi are now diverting their interests towards their roots. They have invested about $1 million (roughly Rs 6.1 crore) in Ather, an electric vehicle start-up focused on designing high-speed electric two-wheelers for the Indian market. This funding round also includes investment from Raju Venkatraman, a serial entrepreneur and CEO of Medall Healthcare Pvt. Ltd, which runs a diagnostic chain in the country.

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Ather was started in 2013 by Tarun Mehta and Swapnil Jain with a mission to accelerate the adoption of electrical vehicles in the country. The startup was incubated and supported by the incubation cell at IIT Madras. “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,” said Mehta.

Their first product, the Ather S340, a smart electric scooter, promises to be the best scooter that you could drive. It will be a pure electric vehicle which will charge up over a lunch break and come with a practically immortal battery. It will out-accelerate other scooters while still being lighter than them all. You will be able to communicate with the S340 and the S340 will learn from you.

Top speed: 75 kmph
Acceleration: 0-60 ~10s
Weight: 85 kg
Peak torque at wheel: 110 N-m
Battery life: 100,000 kms
Charging time: 30 mins for 80% capacity
Connectivity: control over the vehicle drive train paramters using a web and android app implies infinite driving modes

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Ather has a talented team of 15 engineers and designers, it’s key focus area being developing technology to manufacture the best electric vehicles. Currently, Ather is engaged in full-vehicle design and testing. The initial performance validation is over and manufacturing partners are currently being brought on-board.

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