MATTER raises $25 million to scale AERA electric motorcycle

MATTER Motor Works has raised $25 million (₹240 crore) in growth capital, with existing investors participating in the round. The Ahmedabad-based electric motorcycle company said the funding will be used to expand manufacturing and supply-chain capacity, increase distribution investments and fund its next product cycle.

MATTER said customer waitlists for its AERA electric motorcycle continue to grow. Over the next 12 months, the company plans to deploy the capital across manufacturing and supply-chain expansion, brand-building and distribution, and product development.

The company also plans to launch four new motorcycles over the next 12 to 24 months, based on the AERA platform. The new models are intended to extend the platform into additional variants and rider segments.

MATTER raises total capital to around ₹1,000 crore

The latest funding round takes MATTER's total capital raised to around ₹1,000 crore, according to the company. More than ₹750 crore of this amount has already been deployed across manufacturing, research and development, and market entry.

Existing investors including Helena, Capital 2B, Japan Airlines & Translink Innovation Fund, and the Shakopee Mdewakanton Sioux Community participated in the funding.

MATTER to launch four motorcycles on AERA platform

MATTER said a portion of the latest funding will support four new motorcycle launches over the next 12 to 24 months. The motorcycles will use the company's existing in-house powertrain, battery and software architecture.

The company said product development will also draw on its experience from real-world kilometres accumulated by its existing vehicles.

MATTER AERA uses in-house EV technology

MATTER develops its core powertrain, battery systems, control electronics and software in-house. It also manufactures the battery, powertrain and vehicle assembly, supported by a supplier network of more than 150 companies.

The company's technology portfolio includes 111 granted patents. The AERA uses the HyperShift four-speed manual transmission, a liquid-cooled battery pack and an onboard charging system designed to work with a standard 5-amp household socket.

The AERA has a certified range of 172km per charge and features a 7-inch connected touchscreen with navigation, music and call integration.

MATTER Motor Works was founded in Ahmedabad in 2019 and develops electric vehicle and energy storage technologies. Its flagship AERA is described by the company as India's first geared electric motorcycle.