EV and energy storage startup Matter Group announced on Wednesday that it has secured $35 million in its ongoing Series B funding round, led by the US-based problem-solving organization Helena. This capital infusion will help the company scale up manufacturing, supply chain, marketing, and retail expansion to meet the rising demand for sustainable, high-performance mobility solutions, according to a company statement.
Other investors 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 EV manufacturer added.
Matter Group has announced the successful acquisition of the initial $35 million in its ongoing investment round, led by Helena, a US-based global organization focused on solving complex problems, through its venture capital arm.
Highlighting Matter’s innovative approach to electric vehicles, the funding underscores the company’s commitment to empowering mobility and fostering a cleaner future, supported by impact-oriented institutions, the statement said.
“We have welcomed Helena and others via this fundraising. Our technology enables us to create accessible, reliable, and high-performance products,” stated Mohal Lalbhai, Founder and CEO of Matter Group.
Established in 2019, the Ahmedabad-based company has made significant investments in technology development with an “Innovate in India” approach, aiming to develop advanced electric vehicle platforms and energy storage systems.
The company also announced that deliveries of its first 4-speed hyper-shift geared electric motorbike, AERA, which was launched for the domestic market in March last year and has garnered 40,000 pre-bookings, will begin from this festive season.
The in-house developed advanced 5 kWh liquid-cooled batteries and powertrain offer a range of over 125 km per charge, with a 5-amp onboard charging system and features like internet-enabled navigation, music, calls, and a touchscreen.
“We are confident that the shift towards electrifying transportation in this market is inevitable, and India represents the most promising landscape for this transition.” Suprotik Basu, Managing Partner of Helena, stated that the partnership with Matter will transform the electric vehicle sector in India and other emerging markets, addressing our collective global climate challenges.
