# Matter: Automotive, Ahmedabad, India

> Matter: Matter is an Indian electric vehicle company that has launched India's first geared electric bike, the MATTER AERA 5000. Based in Ahmedabad, India.

Source: https://millionrounds.com/startup/matter-13 (Millionrounds; every figure on the page links to its filing or article)

India · [Automotive startup](https://millionrounds.com/companies)

# Matter

Matter is an Indian electric vehicle company that has launched India's first geared electric bike, the MATTER AERA 5000.

Funding reported Last round: Series B

Automotive Ahmedabad, India

Company summary

- **Founded:** 2019 7 years old
- **Team:** 700 201 to 1,000 people
- **Funding reported:** 34.9M as listed, currency not stated
- **Last round:** Series B Jun 2024

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Matter has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Matter

Matter is an Indian electric vehicle company that has launched India's first geared electric bike, the MATTER AERA 5000.

This high-performance motorbike is designed for both urban and highway use, offering an innovative geared transmission that enhances torque and efficiency compared to traditional un geared models. The AERA 5000 is marketed as an affordable option for riders seeking better performance and range. With an ex-showroom price starting at ₹1,83,308, it provides a cost-effective electric mobility solution. Customers can book the AERA 5000 directly through the company, and Matter offers dedicated customer support to address any inquiries related to bookings or product information. The company targets urban Indian riders looking for a practical and powerful alternative to petrol motorbikes, emphasizing features like longer range, higher speed, and environmentally friendly transportation.

## What company datasets say Matter raised

Funding, as reported

Reported in all **34.9M** in the source's currency

Rounds **4**

Last round **Series B**

Last round size **25M**

Last round date **Jun 2024**

Investors listed **11**

## Founders and team

From Matter's own website: 4 founders, 1 on the team.

**Mohal Lalbhai** Co-Founder and Group CEO

**Arun Pratap Singh** Co-Founder and Group COO

**Prasad Telikapalli** Co-Founder and Group CTO

**Saran Babu** Co-Founder and Group CDO

- **Effie Award** National Electric Vehicle Designer of the Year

## On 7 portfolio pages

Investors who name them

- [SucSEED Indovation](https://millionrounds.com/fund/sucseed-indovation)
- [India Accelerator](https://millionrounds.com/fund/india-accelerator)
- [Finvolve](https://millionrounds.com/fund/finvolve)
- [Capital 2B](https://millionrounds.com/fund/capital-2b)
- [Dholakia Ventures](https://millionrounds.com/fund/dholakia-ventures)
- [Saascorp Holdings](https://millionrounds.com/fund/saascorp-holdings)
- [Insist Invest](https://millionrounds.com/fund/insist-invest)

Each firm lists Matter on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

young professionals urban electric mobility solutions electric vehicle reliability clean energy & technology renewable energy solutions multi sensors customer engagement abs brakes energy storage innovation scalable production geared electric bike india sustainable energy electric mobility india manufacturing electric vehicle safety features energy storage inverter india

Built with from their website

Google Maps Azure Devops IoT Qt Adobe Google Tag Manager Amazon Elastic Container Registry WordPress.org Adobe Express Google Cloud

+8 more

Google Ads Clarity SDM MoEngage C++ Google Workspace Viewport Meta Google Play Emotion

- **Sector:** Automotive
- **Industry code:** NAICS 336991, 335910, SIC 3599
- **Region:** Gujarat
- **Revenue:** 4.5M a year, as listed
- **Full record:** [Every detail in the company directory](https://millionrounds.com/directory/matter-b5cc0d34b2)

## How it ended, so far

Exit

Exit Buyer Price When

Acquired Medium undisclosed Apr 2013

## Automotive in India

Startups like it

- [**Yulu** Bengaluru · founded 2017 *Raised*](https://millionrounds.com/company/yulu)
- [**Ather Energy** Bangalore · founded 2013 *Raised*](https://millionrounds.com/company/ather-energy)
- [**Spinny** Gurugram · founded 2015 *Raised*](https://millionrounds.com/company/spinny)
- [**Ultraviolette Automotive** Bengaluru · founded 2016 *Raised*](https://millionrounds.com/company/ultraviolette-automotive)
- [**Truebil** Mumbai · founded 2015 *Raised*](https://millionrounds.com/company/truebil)
- [**myTVS (TVS Automobile Solutions)** Chennai · founded 2011](https://millionrounds.com/startup/mytvs-tvs-automobile-solutions)
- [**Kabira Mobility** Verna · founded 2019](https://millionrounds.com/startup/kabira-mobility)
- [**Mahindra Last Mile Mobility** Mumbai · founded 1994](https://millionrounds.com/startup/mahindra-last-mile-mobility)

## Is this your company?

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