E-bike maker Matter has successfully secured $35 million in a Series B funding round.
This round was led by the US-based venture capital firm Helena and included investments from Capital 2B, Japan Airlines & Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), and other institutional investors and family offices.
This funding will support Matter’s efforts to innovate and expand in the electric motorbike market.
Innovative Growth with New Funding
Matter plans to use this capital to boost its innovations in electric motorbikes and scale up its manufacturing, supply chain, marketing, and retail operations.
The company recently launched its first bike, AERA, in early 2023 and started pre-orders in May 2023.
Matter has already secured 40,000 pre-bookings for AERA, which is scheduled for delivery this festive season.
Future Expansion Plans
Matter’s CEO has announced plans to raise an additional $100 million to $200 million in the next two years.
This funding will be used to establish a new manufacturing facility capable of producing 1 million e-motorbikes. This ambitious expansion aims to position Matter as a significant player in the premium e-bike segment.
Competitive Landscape
In the competitive premium e-bike market, Matter faces competition from Bharat Forge-backed Tork Motors, TVS-backed Ultraviolette, and RattanIndia Enterprises-controlled Revolt.
However, with the new funding and strong pre-bookings for AERA, Matter is well-positioned to make a substantial impact.
Matter Electric Motorcycle
Conclusion
Matter’s successful Series B funding round marks a significant milestone in its journey to revolutionize the electric motorbike market.
With the backing of prominent investors and ambitious expansion plans, Matter is set to drive innovation and growth in the e-bike industry.
