MATTER raises $25 million to expand manufacturing, launch four motorcycles
The deep-tech electric motorcycle maker will use the capital to scale capacity and distribution and broaden its product line with four launches over the next 12-24 months
MATTER Motor Works, an electric motorcycle startup, has secured $25 million in growth capital from existing investors for scaling its business. The investment round includes Helena, Capital 2B, Japan Airlines, TransLink’s corporate venture fund, and the Shakopee Mdewakanton Sioux Community. This brings MATTER's total capital raised to approximately Rs 1,000 crore. Over Rs 750 crore of the investment has already been allocated to manufacturing, research and development, and market entry.
Based in Ahmedabad, the company plans to use the funds to expand manufacturing and supplier networks, increase distribution and brand spending, and introduce four new motorcycles in the next 12-24 months. Founded in 2019, MATTER has developed its electric vehicle technology in-house, including the battery, powertrain, electronics, and software. Its AERA motorcycle features a four-speed manual transmission, liquid-cooled battery pack, onboard charging system, and a claimed range of 172 km.
The investment reflects support from investors who backed MATTER before its motorcycle hit the market, according to founder and CEO Mohal Lalbhai. He added that the capital will accelerate growth and the product roadmap. India's electric two-wheeler market has seen rapid expansion this year, with retail sales reaching a record 204,266 units in July, up 56% year-on-year. Major players like TVS, Ather, River, and Yulu have also been scaling aggressively, raising funds to expand manufacturing and add models.
Written by urgent.news from YourStory's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
