Gujarat-based electric vehicle startup Matter Motor Works has raised USD 25 million in growth capital, taking its total funds raised to around Rs 1,000 crore. The fresh investment will support the company’s ambitious expansion plans, which include the launch of four new electric motorcycles based on its existing Aera platform over the next 12 to 24 months.
The Ahmedabad-headquartered firm, known for developing India’s first geared electric motorcycle, intends to deploy the capital across manufacturing scale-up, supply-chain strengthening, brand building and distribution network expansion. More than Rs 750 crore of the total capital raised so far has already been invested in research and development, production facilities and market entry. With the latest round, Matter is shifting firmly into commercial growth mode after completing its pilot production phase.
The upcoming motorcycles will leverage the core technology stack of the Aera platform, including its in-house powertrain, battery systems and software architecture. This approach allows the company to introduce new variants and target additional rider segments while building on the engineering foundation that has already earned multiple patents. The four planned models are expected to broaden Matter’s presence in the competitive electric motorcycle space and help it capture a larger share of the growing demand for performance-oriented electric two-wheelers in India.
Founder and Group CEO Mohal Lalbhai highlighted that the funding accelerates both the scaling of current demand and the product roadmap that demand has unlocked. By expanding capacity and bringing multiple new models to market within a defined timeframe, Matter aims to strengthen its position as a serious contender in India’s evolving electric mobility landscape. The combination of proven platform technology and significant financial backing positions the startup for steady growth as more riders explore geared electric alternatives to conventional motorcycles.