Matter is a Vertically integrated tech startup focusing on energy storage and electric mobility. It has made $10 million in the latest round of funding. It also received the participation of Capital 2B, Climate Angels Fund, and various marquee Indian HNIs from overseas and India. The funds will be used to keep up-to-date with technological developments, production, and marketing.
“We welcome our new investors to the endeavor of electric mobility transition and energy empowerment. Our belief reinforces the goal of delivering smart and transformational technology to every home in India. Matter is gearing up for its first electric motorcycle launch this year and we aim to develop a world-class portfolio of EV and energy storage products to catalyze the clean energy transition in India,” said Mohal Lalbhai, founder and chief executive officer of Matter.
The Matter is governed by over 230 enthusiastic tech innovators from top institutions with an impressive 1000+ years of energy and EV technology expertise. The Matter will introduce its first and most innovative EV motorcycle later this year. The company believes that once it is launched, the vehicle will establish new standards in the Indian E2W sector, as claimed by the company in an announcement.
“India with its vast talent pool, and for the reason of being energy-hungry, is uniquely placed to lead the next revolution in energy independence. Matter, with its homegrown technology stack, is set to redefine the two-wheeler mobility and energy segments. Matter is one of the first investments from our Fund, and is promising of an exciting journey, one to which I would be as close to the action as possible,” said Vibhore Sharma, partner of Capital 2B.
It was established in 2019 by Mohal Lalbhai Aru, Pratap Singh Kumar Prasad Telikepalli, and Saran Babu. Matter is a technology company guided by its mission to become the most dynamic business driving India towards a sustainable future. With this vision in mind and guided by a dream, Matter takes pride in using its experience and cutting-edge technological solutions to allow everyone to select a greener option.
