MATTER gears up for mobility transformation with AERA this festive;
secures first tranche of $35 Mn in the ongoing funding round (Series B)
Capital to accelerate MATTER’s innovations in electric motorbikes and scaling in manufacturing, supply chain, marketing and retail.
Ahmedabad, 9 July 2024: MATTER Group, an innovative EV tech and energy storage firm committed to propelling India towards energy independence, announced today that it had secured a first tranche of $35 million in the current investment round. The round is led by Helena, a US-based global problem-solving organization, which invested through its venture capital arm. Other notable investors in this round include, Capital 2B, Japan Airlines & Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), other Institutional investors and Family Offices. This global collaboration between forward-thinking partners marks a significant milestone in the pursuit of a mobility transformation that is solving environmental challenges through technological innovation.
Accentuating MATTER’s agile approach towards innovation in electric vehicles, the funding by prominent, impact-oriented institutions validates MATTER’s continued commitment to its two-pronged approach – empowering mobility and fostering a cleaner future. The capital will accelerate MATTER’s efforts to scale manufacturing, supply chain, marketing and retail to meet the growing demand for sustainable, high-performance mobility solutions.
Commenting on the occasion, Mr. Mohal Lalbhai, Founder & CEO of MATTER Group, said, “We at MATTER welcome Helena and notable investors – including Capital 2B, Japan Airlines & Translink Innovation fund, SB Invest, other Institutional investors and family offices – with much excitement on this fascinating journey. We are dedicated to creating accessible, reliable, and high-performance products driven by our innovative technology. Leading this complex mobility transformation are over 600+ MATTER innovators, who keep riders at the forefront of our efforts. With MATTER electric motorbikes, we are ready to embrace a new reality and rewrite the rules of mobility by transforming the world’s largest two-wheeler market”.
As a vertically integrated company, MATTER has meticulously developed its in-house, hyper-scalable technology stack, leveraging the power of data, software and machine intelligence to create India’s first 4-speed Hyper-shift geared electric motorbike, AERA. The proprietary 5 KWh liquid-cooled battery and powertrain offer great performance and longevity. The product empowers riders to charge anywhere by delivering over 125 kms range per charge, with a 5-amp onboard charging system.
The Internet-enabled navigation, music, calls, and a 7″ touchscreen provide a new experience at the user’s fingertips. It’s truly creating a future that is beautiful and cleaner. MATTER secured 40,000 pre-bookings for its electric motorbike AERA, which is set to commence deliveries this festive season. MATTER’s consumer front is led by more than 100 dealer partners who will be creating a first-of-its-kind retail experience. reinforced by the most innovative suppliers. This partner ecosystem is enthusiastic and geared up to create a better future for the planet and people.
MATTER is revolutionizing mobility in India by offering innovative alternatives to traditional two-wheelers, which currently consume 62% of the country’s petrol and contribute significantly to environmental pollution through tailpipe emissions. MATTER’s advanced tech stack is poised to drive a fundamental shift in transportation, catalyzing a cleaner, more sustainable global future that begins in India.
