Ahmedabad-based Matter Motors, a pioneering player in India’s electric motorcycle industry, has revealed ambitious plans to raise $200 million over the next three years as part of its aggressive growth and scale-up strategy. This funding will be pivotal in launching at least three new electric motorcycle models, expanding production capacity, and significantly increasing its retail and global footprint.
Currently, the company markets the Aera, which holds the distinction of being India’s first geared electric motorcycle. With this first mover advantage, Matter now aims to expand its retail presence from just two outlets to 45 customer touchpoints across key Indian cities by the end of this year.
Beyond India, Matter has a global vision. The company is preparing to enter international markets, with exports to Southeast Asia, Europe, Africa, and Latin America on the horizon. As part of its manufacturing roadmap, Matter plans to establish a new facility once its monthly output reaches 5,000 units. The larger goal is to achieve EBITDA break-even when monthly volumes scale up to 20,000–30,000 units.
So far, the company has raised $75 million from key investors, including Helena, Capital 2B, and Baring Private Equity Partners India, and currently holds a valuation of approximately $230 million. As Matter matures, it has its sights set on a public listing within the next 3–4 years. Unlike many startups chasing crowded markets, Matter is strategically focusing on the 125–200cc motorcycle segment, staying away from the saturated electric scooter and premium EV bike categories.
With solid investor support, a unique product, and a well-defined growth path, Matter Motors is positioning itself as a formidable force in India’s rapidly evolving electric two-wheeler space.
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