MATTER Motor Works raises $25 million as electric motorcycle maker shifts to scale-up
The company plans to deploy the new capital largely towards expanding its distribution network, manufacturing capacity and product portfolio, as it seeks to establish a larger presence in India’s electric motorcycle market
MATTER Motor Works has secured $25 million in a growth round to scale its electric motorcycle production, with plans to expand its distribution network, manufacturing capacity, and product portfolio. The company, which began manufacturing in October 2024 and remains in the pilot phase, has produced around 1,500-1,600 vehicles so far.
Currently, MATTER has 30 dealerships across 21 cities and aims to increase this to nearly 50 dealerships by the end of the year, along with another 100 touchpoints in the following year. The expansion is focused on western and southern India, where the company sees early adoption of electric vehicles. The company is also adding new motorcycle models to its product line, targeting the 150-200cc segment, priced between ₹1.6 lakh and ₹2.2 lakh.
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