Ola Electric, eyeing an IPO, is reportedly trimming its workforce by 400-500 employees to streamline operations. This number may change as the senior leadership is still concluding the scale of the layoffs. They are expected to hit multiple verticals, sources told ET.
Ather Energy raised INR 286 crore from founders and Stride Ventures through a mix of debt and equity funding, including series F and series C3 investments.
The funding round follows nine months after the IPO-bound firm announced securing Rs 900 crore from existing stakeholders Hero MotoCorp and GIC through a rights issue.
With a carefully considered combination of debt and equity financing, Ather Energy, a well-known EV producer in India, has raised a total of Rs 286 crore, or about $34 million.
IPO-bound Ather Energy raises Rs 286 crore through venture debt, co-founders moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.