Matter's $25 Million Growth Round
Matter, an electric motorcycle manufacturer based in Ahmedabad, Gujarat, India, has successfully raised $25 million in a growth funding round. The company is known for its AERA 5000 and 5000+ models, which feature a 4-speed hypershift gearbox, active liquid cooling, and smart connectivity options.
Investors
The funding round did not have a lead investor but saw participation from a diverse group of backers including Helena, Capital 2B, Japan Airlines, Translink Innovation Fund, and the Shakopee Mdewakanton Sioux Community (SMSC).
Use of Funds
Matter plans to allocate the new capital towards expanding its manufacturing and supply-chain capabilities. Additionally, the company aims to invest in distribution and brand-building efforts while also developing new products. Over the next 12 to 24 months, Matter intends to launch four new motorcycles based on its AERA platform, targeting a broader range of variants and rider segments.
Technology and Production
Matter develops its core technology in-house, covering areas such as powertrain, battery systems, control electronics, and software. The company also handles the manufacturing of its battery and powertrain, as well as vehicle assembly, supported by over 150 suppliers. Currently, Matter holds 111 granted patents in its technology portfolio. The flagship AERA motorcycle is equipped with a four-speed HyperShift manual transmission and a liquid-cooled battery pack, featuring onboard charging solutions.
Matter's CEO, Mohal Lalbhai, highlighted the importance of this funding in accelerating the company's growth and product roadmap, noting the increasing customer waitlists for their electric motorcycles.