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Due to unexpected circumstances, climate change has only recently become a reality and a serious worry, which resulted in many startups being sustainable. Because of greenhouse gas emissions (the burning of fossil fuels, methane, and carbon dioxide to produce energy consumption), as well as external actions carried out by industries, climate change is accelerating every year (polycarbonate pollution, accelerated electric power, deforestation for paper manufacturing, oil drilling, transportation, and other acts). Wildfires, a quick rise in sea level, ice mass loss in Greenland, Antarctica, the Arctic, and glacier melting are all results of this.
Therefore, many sustainable companies are emerging to assist conserve the environment to some extent. These businesses operate under the sustainability tenets and inspire others to follow in their footsteps.
Several firms nowadays create eco-friendly products and build sustainable brands to help safeguard the environment. The top sustainable startups in India are as follows:
Ather Energy is a company that makes electric vehicles in India, with its main office located in Bangalore. It was founded in 2013 by Tarun Mehta, Swapnil Jain, and Satish Dundur. It creates two electric scooters, the Ather 450X and the Ather 450 Plus. A national network of electric vehicle charging stations called Ather Grid has also been built.
Ather Energy was founded in 2013 by Tarun Mehta and Swapnil Jain. The Technology Development Board of the Department of Science and Technology, IIT Madras, and Aerospike founder and IIT alumni Srini V Srinivasan provided the firm with 4.5 million (US$56,000) in funding at the beginning of 2014. The $1 million seed investment was made by Sachin and Binny Bansal, the founders of Flipkart, in December 2014. Tiger Global provided it $12 million in May 2015 to go toward the development, testing, production, and introduction of the vehicle.
On February 23, 2016, the business unveiled its first scooter, the S340, during the Surge technology conference in Bangalore. Hero MotoCorp invested 180 crore (around US$23 million) to the Series B round of financing in October 2016. In 2018, it made a further 130 crore ($16 million) investment.
In May 2019, Ather Energy raised $51 million in a new round of fundraising thanks to a $32 million investment from Sachin Bansal. Hero MotoCorp converted their $19 million in convertible debt as part of this agreement. InnoVen Capital additionally contributed a $8 million venture debt.
To establish a 400,000 sq ft (37,000 m2) manufacturing plant for electric vehicles in Hosur, Ather Energy and the Tamil Nadu government signed a memorandum of understanding in December 2019. The estimated investment will be $635 million (about $670 million or $84 million in 2020).
In January 2020, the firm added the Ather 450X and Ather 450 Plus to their line of goods.
As part of its Series C round fundraising, Ather Energy received $11.4 million from Hero MotoCorp in July 2020. As part of a Series D financing in November 2020, Ather Energy raised a new round of 260 crore (US$33 million), driven by an investment of 170 crore (US$21 million) from Sachin Bansal and $12 million from Hero MotoCorp.
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