Electric motorcycle startup Matter Motor Works raises 240cr, nears 1,000cr
Business
Matter Motor Works, the Ahmedabad-based electric motorcycle startup, just raised ₹240 crore (about $25 million) from its existing investors, including Japan Airlines and Capital 2B.
This brings its total funding close to ₹1,000 crore as it looks to make a bigger mark in the EV space.
Funding will expand manufacturing and distribution
The new funds will help Matter ramp up manufacturing, strengthen its supply chain, and expand distribution.
It's also gearing up to launch four new electric bike models soon.
Having already delivered nearly 1,500 bikes, the company says most of its funding has gone into building tech and getting these bikes on the road.
Now it's ready for its next big phase.