Mumbai-based electric vehicle and energy storage startup Matter Group on Wednesday announced that it had raised $35 million in the ongoing Series B funding round led by US-based problem-solving organization Helena.
The capital will accelerate the company's efforts to expand manufacturing, supply chain, marketing and retail expansion to meet growing demand for high-performance, sustainable mobility solutions, Matter said in a statement.
The other investors that participated in this round include Capital 2B, Japan Airlines, Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), as well as other institutional investors and Family Offices, the electric vehicle maker said.
"Matter Group announces raising the first tranche of $35 million in the current investment round led by Helena, a US-based global problem-solving organization, which invested through its venture capital arm," the company said.
The funding, which accentuates Matter's agile approach to electric vehicle innovation, validates the company's continued commitment to its two-pronged approach of empowering mobility and fostering a cleaner future, from leading impact-oriented institutions, he said.
"We have brought on board Helena and notable investors (with this fundraising). We are creating affordable, reliable and high-performing products powered by our technology," said Mohal Lalbhai, founder and CEO of Matter Group.
Set up in 2019, the Ahmedabad-based company has invested heavily in technology development with an 'Innovate in India' approach to develop futuristic electric vehicle platforms and energy storage systems, the statement said.
Deliveries of the company's first AERA 4-speed hypershift electric motorcycle, which it launched for the domestic market in March last year and has seen 40,000 advance bookings, will begin from the festive season this year, Matter said .
The advanced 5 kWh liquid-cooled batteries and powertrain equipped with in-house development offer more than 125 km of range per charge, with a 5 amp on-board charging system, along with features such as navigation with Internet access, music, calls and a touch screen. among others.
"We believe it is inevitable that transportation in this market will become electrified, and India is the most exciting place in the world for that transition to materialize. The partnership with Matter will reshape the electric vehicle landscape for India and other emerging markets. . our shared global climate challenges," said Suprotik Basu, managing partner of Helena.
The capital will accelerate the company's efforts to expand manufacturing, supply chain, marketing and retail expansion to meet growing demand for high-performance, sustainable mobility solutions, Matter said in a statement.
The other investors that participated in this round include Capital 2B, Japan Airlines, Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), as well as other institutional investors and Family Offices, the electric vehicle maker said.
"Matter Group announces raising the first tranche of $35 million in the current investment round led by Helena, a US-based global problem-solving organization, which invested through its venture capital arm," the company said.
The funding, which accentuates Matter's agile approach to electric vehicle innovation, validates the company's continued commitment to its two-pronged approach of empowering mobility and fostering a cleaner future, from leading impact-oriented institutions, he said.
"We have brought on board Helena and notable investors (with this fundraising). We are creating affordable, reliable and high-performing products powered by our technology," said Mohal Lalbhai, founder and CEO of Matter Group.
Set up in 2019, the Ahmedabad-based company has invested heavily in technology development with an 'Innovate in India' approach to develop futuristic electric vehicle platforms and energy storage systems, the statement said.
Deliveries of the company's first AERA 4-speed hypershift electric motorcycle, which it launched for the domestic market in March last year and has seen 40,000 advance bookings, will begin from the festive season this year, Matter said .
The advanced 5 kWh liquid-cooled batteries and powertrain equipped with in-house development offer more than 125 km of range per charge, with a 5 amp on-board charging system, along with features such as navigation with Internet access, music, calls and a touch screen. among others.
"We believe it is inevitable that transportation in this market will become electrified, and India is the most exciting place in the world for that transition to materialize. The partnership with Matter will reshape the electric vehicle landscape for India and other emerging markets. . our shared global climate challenges," said Suprotik Basu, managing partner of Helena.
