Capital to accelerate MATTER’s innovations in electric motorbikes and scaling in manufacturing, supply chain, marketing and retail.
Chennai 29 July 2024: MATTER Group, an innovative EV tech and energy storage firm committed to propelling India towards energy independence, announced today that it had secured a first tranche of $35 million in the current investment round. The round is led by Helena, a US-based global problem-solving organization, which invested through its venture capital arm. Other notable investors in this round include, Capital 2B, Japan Airlines & Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), other Institutional investors and Family Offices. This global collaboration between forward-thinking partners marks a significant milestone in the pursuit of a mobility transformation that is solving environmental challenges through technological innovation.
Accentuating MATTER’s agile approach towards innovation in electric vehicles, the funding by prominent, impact-oriented institutions validates MATTER’s continued commitment to its two-pronged approach – empowering mobility and fostering a cleaner future. The capital will accelerate MATTER’s efforts to scale manufacturing, supply chain, marketing and retail to meet the growing demand for sustainable, high-performance mobility solutions.
Commenting on the occasion, Mr. Mohal Lalbhai, Founder & CEO of MATTER Group, said, “We at MATTER welcome Helena and notable investors – including Capital 2B, Japan Airlines & Translink Innovation fund, SB Invest, other Institutional investors and family offices – with much excitement on this fascinating journey. We are dedicated to creating accessible, reliable, and high-performance products driven by our innovative technology. Leading this complex mobility transformation are over 600+ MATTER innovators, who keep riders at the forefront of our efforts. With MATTER electric motorbikes, we are ready to embrace a new reality and rewrite the rules of mobility by transforming the world’s largest two-wheeler market”.
Mr. Suprotik Basu, Managing Partner of Helena, added, “We believe it is an inevitability that transportation in this market will electrify, and India is the most exciting place in the world for that transition to materialize. The question is which team will be nimble, innovative and hardworking enough to seize this moment of transition. The MATTER team has impressed us immensely with their approach towards value driven, high performance technology products. It has been wonderful to see the initial positive consumer traction, and strong progress from the company thus far. We are excited to deeply partner with MATTER to reshape the electric vehicle landscape for India and for other emerging markets to address our shared global climate challenges.”
Mr. Vibhore Sharma, Partner Capital 2B added, “We are thrilled to be a part of the growth trajectory of MATTER Group and their vision of empowering mobility through breakthrough technology, prioritizing performance, reliability, safety, and security as core principles. The team at MATTER has successfully developed a unique blend of great performance and best value that is poised to transform the entire two-wheeler industry with their electric motorbikes.”
“The Japan Airlines & Translink Innovation Fund is dedicated to fostering sustainable and innovative businesses through pioneering use of cutting-edge technologies and business collaborations in mobility, digital, ESG-related, and other fields. We are pleased to collaborate with MATTER to explore the potential of MaaS (Mobility-as-a-Service) by adding electric motorcycles and energy storage technology to JAL’s new challenge through our investment in MATTER Group,” said Takao Suzuki /Executive Officer, Senior Vice President – Innovation at Japan Airlines
Sheikh Mohammed Saad Bahwan, MD at SB Invest and Director of OTE Group said, “At SB Invest, we believe in supporting transformative technologies that have the potential to make a global impact. MATTER Group’s vision and technological prowess makes them a standout player in the energy domain. We are proud to be part of their journey towards energy independence. Our commitment to empowering every individual through efficient mobility gets a clear direction through this association.”
As a vertically integrated company, MATTER has meticulously developed its in-house, hyper-scalable technology stack, leveraging the power of data, software and machine intelligence to create India’s first 4-speed Hyper-shift geared electric motorbike, AERA. The proprietary 5 KWh liquid-cooled battery and powertrain offer great performance and longevity. The product empowers riders to charge anywhere by delivering over 125 kms range per charge, with a 5-amp onboard charging system. The Internet-enabled navigation, music, calls, and a 7″ touchscreen provide a new experience at the user’s fingertips. It’s truly creating a future that is beautiful and cleaner. MATTER secured 40,000 pre-bookings for its electric motorbike AERA, which is set to commence deliveries this festive season. MATTER’s consumer front is led by more than 100 dealer partners who will be creating a first-of-its-kind retail experience. reinforced by the most innovative suppliers. This partner ecosystem is enthusiastic and geared up to create a better future for the planet and people.
MATTER is revolutionizing mobility in India by offering innovative alternatives to traditional two-wheelers, which currently consume 62% of the country’s petrol and contribute significantly to environmental pollution through tailpipe emissions. MATTER’s advanced tech stack is poised to drive a fundamental shift in transportation, catalyzing a cleaner, more sustainable global future that begins in India.