MATTER Bags $25 Mn Growth Capital To Expand EV Production

25 Aug 2026, 1:18 pm · 18d ago · 1 min read · Inc42

Amount

$25M

Stage

Growth Equity

Lead

Helena

Ahmedabad-based electric motorcycle startup MATTER Motor Works has raised $25 million in growth capital from existing investors, including Helena, Capital 2B, Japan Airlines & Translink Innovation Fund, and Shakopee Mdewakanton Sioux Community. Founded in 2019 by Mohal Lalbhai, MATTER develops in-house powertrains, battery systems, and software, and launched the AERA geared electric motorcycle. The company has raised ₹1,000 crore to date, deploying ₹750 crore into manufacturing and R&D. The fresh capital will be deployed over 12 months to expand manufacturing capacity, scale retail distribution, and roll out four new motorcycle models on its AERA platform.