MATTER Motor Works Raises $25 Million for Growth

MATTER Motor Works Raises $25 Million in Growth Capital

MATTER Motor Works has raised $25 million (₹240 crore) in growth capital, with existing investors participating in the round. The Ahmedabad-based electric motorcycle company said the funding will support manufacturing and supply-chain capacity, increase distribution investments, strengthen brand-building activities, and finance its next product cycle. The company said customer waitlists for its AERA electric motorcycle continue to grow, while the new capital will be deployed over the next 12 months across production expansion, supply-chain development, distribution and product development. The latest round brings greater financial capacity for MATTER Motor Works as it prepares to broaden its electric motorcycle portfolio.

Funding to Support Manufacturing and Product Expansion

MATTER Motor Works plans to use the newly raised capital across several areas of its business as it prepares for the next stage of growth. The company intends to expand manufacturing and supply-chain capacity while increasing investment in distribution and brand-building. It also plans to support its next product cycle, with four new motorcycles scheduled for launch over the next 12 to 24 months. These models will be based on the AERA platform and are intended to extend the platform into additional variants and rider segments, giving the company a broader presence across the electric motorcycle market in India.

MATTER's Total Capital Raised Reaches Around ₹1,000 Crore

The latest financing round takes MATTER Motor Works' total capital raised to around ₹1,000 crore, according to the company. More than ₹750 crore of that amount has already been deployed across manufacturing, research and development, and market entry. Existing investors including Helena, Capital 2B, Japan Airlines & Translink Innovation Fund, and the Shakopee Mdewakanton Sioux Community participated in the latest funding round. The continued participation of existing investors provides additional capital as MATTER Motor Works moves from establishing its initial market presence toward manufacturing expansion, broader distribution and development of additional electric motorcycle products.

Four New Motorcycles Planned on the AERA Platform

MATTER Motor Works said a portion of the latest funding will support four new motorcycle launches over the next 12 to 24 months. The motorcycles will use the company's existing in-house powertrain, battery and software architecture, allowing the company to build additional products around technologies already developed for its AERA platform. Product development will also draw on experience from real-world kilometers accumulated by existing vehicles. This approach is intended to use operational experience from the current platform while extending its capabilities into additional variants and rider segments. The planned launches represent a key part of the company's next product cycle.

In-House EV Technology Supports AERA Platform

MATTER Motor Works develops its core powertrain, battery systems, control electronics and software in-house, while also manufacturing its battery, powertrain and vehicle assembly with support from a supplier network of more than 150 companies. Its technology portfolio includes 111 granted patents. The AERA uses the HyperShift four-speed manual transmission, a liquid-cooled battery pack and an onboard charging system designed to work with a standard 5-amp household socket. The motorcycle has a certified range of 172 kilometers per charge and features a 7-inch connected touchscreen with navigation, music and call integration, reflecting the company's focus on integrated electric motorcycle technology.

AERA Technology and MATTER's Product Strategy

MATTER was founded in Ahmedabad in 2019 and develops electric vehicle and energy storage technologies. Its flagship AERA is described by the company as India's first geared electric motorcycle. The platform combines the company's internally developed powertrain, battery and software systems with the HyperShift transmission and liquid-cooled battery architecture. The company plans to use this existing technology foundation for four additional motorcycles over the next 12 to 24 months. By building new products around the AERA platform, MATTER Motor Works aims to expand its product coverage while applying experience gained from vehicles already operating in real-world conditions.

Frequently Asked Questions

What will MATTER Motor Works use the $25 million funding for?
MATTER Motor Works will use the new growth capital to expand manufacturing and supply-chain capacity, increase distribution and brand-building investments, and fund its next product cycle. The company also plans to support four new electric motorcycle launches over the next 12 to 24 months based on the AERA platform. The latest round brings total capital raised to around ₹1,000 crore, while more than ₹750 crore has already been deployed across manufacturing, research and development, and market entry. Existing investors participated in the latest funding round alongside the company.