PE-VC Fund Investments
Electric bike maker Matter Motor raises $25-M from Helena, Capital 2B, others
Ahmedabad-based Matter Motor Works has raised USD 25 million in growth capital. The transaction saw participation from existing investors, including Helena, Capital 2B, Japan Airlines, Translink Innovation Fund, and the Shakopee Mdewakanton Sioux Community.The Mohal Lalbhai founded electric motorcycles maker intends to use the new funds to scale its production capacity. Matter Motor is currently increasing its monthly manufacturing output to 1,000 units, with goals to reach 2,500 and subsequently 5,000 vehicles per month.With this latest injection of capital, the total funds raised by the company have reached approximately INR 1,000 crore. The firm has previously deployed over INR 750 crore across manufacturing, research and development, and market entry initiatives.
Between Jan 2022 and May 2024, Matter Motor Works had attracted about $ 45 M from Climate Angels Fund, Info Edge, Japan Airlines Ventures, Others.For FY25, Matter Motor Works had reported about INR 6 Cr in Operating Income and about INR 72 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
