Ather leads the pack as EV startups raise $63.5 million so far this year

Despite uncertainty clouding their future, thanks to the pandemic, two-wheeler startups in the electric vehicle (EV) space have managed to collectively raise more than $63.5 million this year.

According to data collated by Praxis Global Alliance, a global management consulting and advisory firm, electric two-wheeler startups raised $28.5 million between January and September 2020.

The aggregate got a further boost of $35 million a few days ago when the Hero MotoCorp-promoted scooter maker Ather Energy announced the successful completion of their funding-raising programme.

TVS Motor Company-backed Ultraviolette Automotive, which is building a high- performance premium electric motorcycle, raised capital in October but the company declined to provide the transaction details.

The full article was originally published on Moneycontrol.