New York-based Matter Motor, a company that makes electric vehicles and stores energy, said it had raised $35 million in a Series B round led by US-based venture capital firm Helena.
The money will help MATTER speed up its innovations in electric motorcycles and its growth in manufacturing, supply chain, marketing, and retail.
The Capital 2B, Japan Airlines & Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), and other institutional investors and family offices are also big players in this round.
Read also – EleFant Secures $750K in Seed Funding Round Led by Venture Catalysts, Malpani Ventures
Matter released its first bike in early 2023, and from May 2023 on, people could pre-order it. Using data, software, and machine intelligence, the company built its own technology stack and used it to make AERA, a 4-speed hyper-shift geared electric motorcycle.
With a 5-amp onboard charging system, the Matter product gives riders the freedom to charge anywhere. Each charge gives the bike more than 125 km of range. As of right now, Matter has 40,000 pre-orders for its AERA electric motorcycle, and shipping will start this holiday season.
About Matter
Founded in 2019 by Mohal Lalbhai, Matter is an innovation-intensive start-up creating futuristic electric vehicle platforms and energy storage solutions.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
