In early 2013, two IIT-Madras batchmates, Tarun Mehta and Swapnil Jain, quit their jobs and went back to their alma mater. Their intention was not further studies. They wanted to make a battery - one that could be used in electric two wheelers, and which would be far superior in performance than the available ones.
The IIT-Madras start-up incubator welcomed them and even provided Rs. 5 Lakh in funds. That was the start of Ather Energy, which expects to commercialize a high-performance electric scooter in the coming months at a little less than Rs. 1 Lakh, a price which they say is no more than for an equivalent petrol scooter. For the two friends, the objective was simple. They wanted to make an electric scooter that feels like a petrol one - much like what Tesla Motors did with cars in America.
The idea has attracted many and Ather’s funders now include the Central government, Tiger Global,Flipkart founders....
