Matter Motor Works seeks $50 million for distribution expansion in India
Ahmedabad-based Matter Motor Works, known for its geared electric motorcycle Aera, is aiming to raise $50 million in new funding at a $300 million valuation.
The goal? To ramp up distribution, marketing, and brand presence as the company moves past its pilot phase.
Co-founder Mohal Lalbhai shared that this push will help them reach more riders across India.
Matter has 10,000 units monthly capacity
Major backers like Capital 2B and JAL Innovation Fund are already on board, with talks underway for more partners.
Matter's existing plant can produce up to 10,000 units a month, so no need for factory expansion just yet.
They're also planning new models in the 150cc and 125cc categories soon.
Even though electric motorbikes contributed less than 1% of the 1.14 million battery-powered two-wheelers sold during FY25, Matter is betting big on growth and aims to raise even more funds next year to keep the momentum going.