Ahmedabad-based electric motorcycle startup Matter Motors is gearing up for rapid expansion, with plans to raise $200 million (approx. ₹1,730 crore) over the next few years. The funds will be used to launch new models, scale up production, and strengthen operations. Notably, the company is also preparing for a potential public listing within the next 3 to 4 years to further boost its capital base.
Flagship Model and Market Presence
Matter has so far focused on a single flagship product—the Aera, India’s first electric motorcycle featuring a 4-speed manual gearbox. Priced at around ₹1.8 lakh, the Aera is currently available in Ahmedabad and Bengaluru, with deliveries having started in late 2024.
In a notable move, Matter recently announced a lifetime warranty on the Aera, aiming to build consumer trust and long-term brand value.
Funding and Valuation
Matter has already secured $75 million in Series B funding, pushing its valuation to around $230 million (₹1,990 crore). Its investor lineup includes Helena, Capital 2B, Japan Airlines & Translink Innovation Fund, LetsVenture, Baring Private Equity Partners, and Saad Bahwan Investment Management Company (SB Invest).
Manufacturing and Capacity Expansion
Production is currently underway at a pilot facility in Ahmedabad, which the company is actively expanding. The plant is expected to reach an annual capacity of 1.2 lakh units, with a monthly output of 5,000 units targeted by mid-2026. Once the current facility reaches full capacity, Matter plans to set up a larger manufacturing plant.
Global Ambitions
While the initial focus remains on scaling the Aera within India, Matter is also setting its sights on international markets. Starting in 2025, the company aims to enter regions such as South East Asia, Eastern and Southern Europe, East Africa, and Latin America.
Despite its aggressive growth plans, Matter has no current intention of entering the electric scooter or high-end EV motorcycle segments. It will continue to compete in the sub-200cc equivalent space alongside brands like Revolt Motors, Oben Electric, and Ola Electric.