# Matter Motor Works Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/matter-motor-works-pvt

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Ahmedabad, India
- Website: www.matter.in
- Total disclosed funding: $74M
- Latest round: Series B (Jul 3, 2024)
- Investors on record: 12

## About

Founded in 2019 and based in Gujarat, India, Matter Motor Works Private Limited operates as a Manufacturer of electric vehicle and energy storage products for the solution vehicle eco-systems. In July 2024, Matter Motor Works Pvt. Ltd. raised USD 35 million in series B funding led by returning investor Helena Special Investments, with participation from new investor SB Investment. Returning investors Capital 2B, TransLink Capital, and other unspecified investors also participated in the round. Matter offers motorbikes, and it has also developed an active liquid-cooled two-wheeler EV battery MatterEnergy 1.0. The company's portfolio of EV and energy storage products to help catalyze the clean energy transition in India include Matter Drive which is a revolutionary electric propulsion system; Matter Energy, an Energy Storage and Management solution; Matter Entel, an electronic system designed and developed for enabling greater control over the core electrical and electronic systems of an electric platform; Matter Link, a multi-platform software solution; and Matter X. The company plans to use the 2024 funding to support its expansion and develop its marketing and manufacturing.

## Funding rounds

- Series B, Jul 3, 2024, $35M — TransLink Capital, Japan Airlines, Helena, SB Investment, Capital 2B
- Series D, Jun 26, 2024, $9.9M — TransLink Capital, Helena, Capital 2B
- Series B, Dec 8, 2022, $3.1M — SucSEED Venture Partners, Finvolve
- Series B, Jan 29, 2022, $9.2M — Baring Private Equity Partners, Climate Angels, Capital 2B
- Series B, Jan 29, 2022, $10M — Baring Private Equity Partners, LVX, GoMassive Earth Network, Dholakia Ventures, Capital 2B, Finvolve
- Series A, Nov 30, 2021, $6.7M — Baring Private Equity Partners

## Investors

- Baring Private Equity Partners — Series A, Series B
- Climate Angels — Series B
- Capital 2B (https://capitalatlas.ai/funds/capital-2b) — Series B, Series D
- LVX (https://capitalatlas.ai/funds/lvx) — Series B
- GoMassive Earth Network (https://capitalatlas.ai/funds/gomassive-earth-network) — Series B
- Dholakia Ventures (https://capitalatlas.ai/funds/dholakia-ventures) — Series B
- Finvolve (https://capitalatlas.ai/funds/finvolve) — Series B
- SucSEED Venture Partners (https://capitalatlas.ai/funds/sucseed-venture-partners) — Series B
- TransLink Capital (https://capitalatlas.ai/funds/translink-capital) — Series D, Series B
- Helena (https://capitalatlas.ai/funds/helena) — Series D, Series B
- Japan Airlines — Series B
- SB Investment — Series B