EV Mechanica

Subscribe to EV Mechanica's Current Newsletter & never miss an update!

    Close Menu
      Facebook X (Twitter) Instagram
      EVMechanicaEVMechanica
      EVMechanicaEVMechanica
      • Home
      • News
        • E-Mobility
        • EV Battery
      • Charging Stations
      • Policy
      • Research
      • Interview
      • Jobs
      • Events
      • E-Mag
      • Subscription
      Facebook YouTube LinkedIn WhatsApp
      EVMechanicaEVMechanica
      Home » Matter Raises $10 Mn in Funding Round to Build Products

      Matter Raises $10 Mn in Funding Round to Build Products

      Aishwarya SaxenaBy Aishwarya SaxenaJune 27, 2022 E-Mobility 2 Mins Read
      Share
      Facebook Twitter LinkedIn WhatsApp

      Matter has received an initial round of equity funding at $10 Mn from Info Edge’s Capital 2B Fund 1, Climate Angel Fund, and several other Indian and overseas HNI’s.

      Matter Funding The fresh funds will be used towards the launch of its new line of electric mobility and energy storage products.

      “Matter is gearing up for its first electric motorcycle launch this year and we aim to develop a world-class portfolio of EV and energy storage products to catalyze the clean energy transition in India,” said Lalbhai, founder and CEO of Matter.

      Both its battery and the drive-train technologies have been developed to be used in manufacturing its own EVs and would be part of its upcoming two-wheeler, Lalbhai added saying that these technologies are not for sale to other EV OEMs.

      “We are not selling MatterEnergy 1.0 or Matter Drive 1.0 to other companies simply because it is just not the battery pack but also the accessories and overall system that goes with it. That is where it is not really a plug and play solution, rather it has to be taken into the architecture from the get-go,” added Lalbhai.

      All the powertrain components for Matter’s products have been designed by its in-house team and sourced locally, said the startup.

      “Matter, with its homegrown technology stack, is set to redefine the two-wheeler mobility and energy segments,” said Vibhore Sharma, partner, Capital 2B.

      Info Edge’s new Alternative Investment Fund scheme Capital 2B Fund 1 has a total corpus of $75 Mn, which is aimed at investing in deep technology and patents.

      “Matter is one of the first investments from our Fund, and is promising of an exciting journey, one to which I would be as close to the action as possible,” added Sharma.

      Matter is already backed by private equity firm Baring Private Equity Partners.

      Speaking about the new fundraise, Rahul Bhasin, managing partner at Baring Private Equity Partners said, “Baring in India, has successfully partnered with entrepreneurs in building and growing multiple new-age businesses. Matter’s product portfolio, EVs and Energy Storage products for every Indian home, should help progress towards creating a more sustainable future for our country.”

      Matter is eyeing the launch of its first electric motorcycle later in the year.

      In May, the Indian startups in the EV space reportedly raised over $170 Mn of funding despite the Indian startup ecosystem grappling with a visible ‘funding winter’.

      Baring Private Equity Partners Climate Angel Fund energy storage products Info Edge’s Capital 2B Fund 1 Matter news Startup two-wheeler mobility
      Share. Facebook Twitter LinkedIn WhatsApp
      Aishwarya Saxena

      More article from Aishwarya Saxena

      Keep Reading

      EV & Auto Stocks Mixed on July 1: HBL Engineering, Olectra Greentech Lead Gainers Amid Volatile Session

      India EV 2025 Day 2: Funding, Innovation Propel

      EVeium boosts affordability of premium EVs via localisation

      Leave A Reply Cancel Reply

      two + 13 =

      E-MOBILITY

      India EV 2025 Day 2: Funding, Innovation Propel

      July 1, 2025

      EVeium boosts affordability of premium EVs via localisation

      July 1, 2025

      Odysse Electric sells 344 units, sees 54% growth

      July 1, 2025

      EKA Mobility appoints Sanjay Kumar Bohra CCO

      July 1, 2025

      Articles

      Is Silver the New Strategic Metal for the EV and Clean Energy Revolution?

      The transition to sustainable energy systems and electric vehicles (EVs) is not a pipe dream;…

      EV Incentive Phase-Out: What Happens After FAME-II Ends in India?

      As India made progress creating new clean transport, there is a significant change with the…

      The Subsidy Paradox: Can India Sustain EV Incentives Without Breaking the Bank?

      As India accelerates its electric vehicle (EV) revolution, subsidies have played a pivotal role in…

      © 2025 EVMechanica.com.
      • Home
      • About Us
      • Contact Us
      • Subscription

      Type above and press Enter to search. Press Esc to cancel.