MATTER Motor Works, the electric motorcycle startup behind the AERA platform, has raised $25 million (~Rs 240 crore), in growth capital from existing investors.
The round includes Helena, a global problem-solving organisation with a venture arm, deep-tech investor Capital 2B, Japan Airlines and TransLink’s corporate venture fund, and the Shakopee Mdewakanton Sioux Community, a federally recognised Dakota tribal government in Minnesota with a diversified enterprise base.
The investment takes MATTER’s total capital raised to about Rs 1,000 crore.
The startup said more than Rs 750 crore of the capital it has raised has already gone into manufacturing, research and development, and entering markets.
The Ahmedabad-based company plans to use the latest funding to expand manufacturing and its supplier network, increase spending on distribution and brand building, and introduce four new motorcycles over the next 12 to 24 months.
