EV and energy storage startup Matter Group announced on Wednesday that it has raised $35 million in a Series B funding round led by the US-based organization Helena. This funding will help Matter Group expand manufacturing, supply chain, marketing, and retail to meet the rising demand for sustainable, high-performance mobility solutions.
Other investors in this round include Capital 2B, Japan Airlines, Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), and other institutional investors and family offices. Matter Group’s founder and CEO, Mohal Lalbhai, said, “We are creating accessible, reliable, and high-performance products driven by our technology.”
Founded in 2019 and based in Ahmedabad, Matter Group has focused on developing electric vehicle platforms and energy storage systems with an “Innovate in India” approach. The company’s first product, the AERA electric motorbike, launched last March, has received 40,000 pre-bookings. Deliveries are set to begin during the festive season this year.
The AERA features advanced 5 KWh liquid-cooled batteries and a powertrain that offers a range of over 125 km per charge. It also includes a 5-amp onboard charging system, internet-enabled navigation, music, calls, and a touchscreen.
Suprotik Basu, Managing Partner of Helena, stated, “The partnership with Matter will reshape the electric vehicle landscape for India and other emerging markets to address our shared global climate challenges.”