Ather Energy Becomes Unicorn with $71M Funding; 4baseCare and Kazam Secure New Investments
Three startups—Ather Energy, 4baseCare, and Kazam—have raised significant funds to drive growth and innovation in electric vehicles and healthcare.
Ather Energy Raises $71M, Becomes Unicorn
Ather Energy, a Bengaluru-based electric scooter maker, has raised ₹600 crore ($71 million) from the National Investment and Infrastructure Fund (NIIF), valuing the company at $1.3 billion. Ather is now India’s fourth unicorn of 2024 and the second in the mobility sector after Rapido.
- About Ather: Founded by Tarun Mehta and Swapnil Jain, Ather is known for its 450 series scooters. The company is expanding its lineup with the Rizta family scooter to compete with market leader Ola Electric. Ather is ramping up production at its Aurangabad plant and preparing for a potential public listing, despite reporting losses of ₹1,059 crore in the last fiscal year.
4baseCare Raises $6M for Precision Oncology
4baseCare, a precision oncology startup, has raised $6 million in a Series A round led by Yali Capital. The funds will help expand its operations across India, Asia, and the Middle East.
- About 4baseCare: Founded in 2018 by Hitesh Goswami and Kshitij Rishi, 4baseCare uses genomics and digital health to offer personalized cancer treatment solutions. The startup’s key product, Indiegene, is the world’s first cancer gene panel tailored for the Indian population. The company plans to open new genomics labs in the Philippines, Nepal, and Dubai.
Kazam Secures $8M to Expand EV Charging Network
Kazam, a startup focused on EV charging, raised $8 million in a Series A3 funding round led by Vertex Ventures Southeast Asia and India. This new round brings Kazam’s total funding to nearly $20 million.
- About Kazam: Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam offers an affordable EV charging platform for charge point operators and fleet managers. The company operates over 25,000 charging points across India and recently launched a fast charging solution for electric two- and three-wheelers. Kazam has partnered with companies like BigBasket, Zypp, and Mahindra Logistics.
Growing Impact in EV and Healthcare Sectors
These funding rounds highlight the rapid growth and innovation in India’s startup ecosystem. Ather Energy’s rise to unicorn status, 4baseCare’s expansion in precision oncology, and Kazam’s growth in the EV charging market showcase the potential of these companies to make a significant impact in their fields.
