Cold emailing is a superpower
💪 Here’s how it helped Ather Energy raise ₹500 Crores.
Tarun (Ather’s co-founder) started his career in the future vehicle development program of Ashok Leyland. But life had something else planned for him.
➤ Inception of Ather: His co-founder, Swapnil (the Wozniak of Ather), & he left their jobs & reached back to Indian Institute of Technology, Madras to build lithium-ion batteries.
Batteries took them to vehicles, & building a lot of vehicles meant that they could create a meaningful #impact in the energy space. Tarun was able to raise Rs. 25 lakh from his father but that dried up very quickly. He needed a VC. However, after going to every VC in town & seeing no result, he cold-emailed Sachin Bansal & asked him what he was lacking in his pitch deck.
Surprisingly Sachin responded. A meeting between the two ended up convincing Sachin to invest $1 million. Then Tiger Global Management followed with $12 million, & Hero MotoCorp followed with $27 million. It took ₹400-500 Cr, a team of 300-400 people & going bankrupt 5 times just to get the scooter into production! No matter the struggles, a truly great product will always pay off. Ather sold 82,146 units in FY 2023. Its Y-o-Y sales rose by 310% compared to FY 2022. Today when we look back, Tarun’s success story was truly a measure of taking risks & building strategies to create an impact. Simply keeping at it & believing in what you do changes the game. Agree? #investment #founder #success #ev #scooter #automobile #business #sales #technology
