MATTER - About the company
MATTER is a series B company based in Ahmedabad (India), founded in 2019 by Mohal Rajivbhai Lalbhai, Arun Pratap Singh, Saran Babu and Kumar Prasad Telikepalli. It operates as a Developer of geared electric motorcycles and EV energy solutions. MATTER has raised $82.7M in funding from investors like Pioneer Projects Investment, LetsVenture and Pure Capital, with a current valuation of $*****. The company has 492 active competitors, including 52 funded and 13 that have exited. Its top competitors include companies like Ather Energy, Gogoro and Oben Electric.
Company Details
Developer of geared electric motorcycles and EV energy solutions. The company builds India’s first geared electric motorbike platform, led by its Aera model, combining a liquid‑cooled battery pack, manual gearbox, and connected features to offer a familiar yet electrified riding experience. It follows a vertically integrated approach to design in‑house powertrains, battery systems, and control electronics, and is expanding into broader energy storage and EV technology solutions from its manufacturing hub.
- Website
- www.matter.in/
- Social
- Email ID
- *****@matter.in
- Phone Number
- +91 **********
- Registered Address
- 301, PARISHRAM BUILDING, 5B RASHMI SOC., NR. MITHAKHALI SIX ROADS, NAVRANGPURA, Ahmedabad, AHMEDABAD, Gujarat, India, 380009
Key Metrics
Legal entities associated with MATTER
MATTER is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
MATTER MOTOR WORKS PRIVATE LIMITED CIN: U34300GJ2019PTC105854 , India, Active | Jan 03, 2019 | $1.17M (As on Mar 31, 2025) | 433 (As on Jul 01, 2025) |
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MATTER's funding and investors
MATTER has raised a total funding of $82.7M over 8 rounds. Its first funding round was on Jan 24, 2022. Its latest funding round was a Series B round on Jun 26, 2025 for $*****. 3 investors participated in its latest round. MATTER has 36 institutional investors and 15 angel investors.
Here is the list of recent funding rounds of MATTER:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jun 26, 2025 | 9290254 | Series B | 2007700 | 8324077 | 5602855 | 4393725 |
Dec 30, 2024 | 8089082 | Series B | 2251686 | 4880789 | 8760812 | |
May 01, 2024 | 5718681 | Series B | 7626866 | 9827411 |
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MATTER's founders and board of directors
Founder? Claim ProfileThe founders of MATTER are Mohal Rajivbhai Lalbhai, Arun Pratap Singh, Saran Babu and Kumar Prasad Telikepalli. Mohal Rajivbhai Lalbhai is the CEO of MATTER.
Here are the details of MATTER's key team members:
- Mohal Rajivbhai Lalbhai: Co-Founder & CEO of MATTER and founder of 1 other company. They are also an angel investor in 1 startup and serve on the boards of 3 companies.
- Arun Pratap Singh: Co-Founder & COO of MATTER. They serve on the boards of 2 companies.Contact Info: 1 phone number
- Saran Babu: Co-Founder & CDO of MATTER. They are also an angel investor in 1 startup.Contact Info: 1 email address and 1 phone number
- Kumar Prasad Telikepalli: Co-Founder & CTO of MATTER. Contact Info: 1 phone number
MATTER's Board of Directors
MATTER's board has 5 active members. Mohal Rajivbhai Lalbhai and Arun Pratap Singh are part of team and Amit Dilip Shah, Arvind Sahay and Suprotik Basu are independent board members.Here is the list of MATTER's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 7y 4m | |
lvcenfr | Team | - | Past | 2y 7m |
Independent board member | - | Current | 2y 3m | |
blwlboz | Independent board member | - | Current | 8y 3m |
az{linn | Independent board member | - | Past | 3y 2m |
qkroqqk | Independent board member | - | Past | 1y 7m |
View details of MATTER's Founder profiles and Board Members
MATTER's employee count trend
MATTER has 427 employees as of Jun 25. The total employee count is 6.0% lower than what it was in Jun 24. Here is MATTER's employee count trend over the years:
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MATTER's Competitors and alternates
Top competitors of MATTER include Ather Energy, Gogoro and Oben Electric. Here is the list of Top 10 competitors of MATTER, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Ather Energy 2013, Bengaluru (India), Public | Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | $502M | 84/100 | |
2nd | Platform offering electric scooters and operator of battery swapping networks | $765M | 77/100 | ||
3rd |  Oben Electric 2020, Bengaluru (India), Series A | Platform offering two wheeler motorcycle products | $37.6M | 75/100 | |
4th | Manufacturer of electric scooters designed for urban and developing environments | $31.1M | 70/100 | ||
5th |  Ola Electric 2017, Bengaluru (India), Public | Manufacturer of electric scooters, motorcycles, and energy storage solutions | $1B | 68/100 | |
6th |  Simpl Energy 2019, Bengaluru (India), Series A | Manufacturer of electric scooters designed for urban and long-distance travel | $85.6M | 67/100 | |
7th | Platform offering electric motorcycles | $15.9M | 66/100 | ||
8th | Manufacturer of electric scooters, electric cycles, and electric mopeds | $1.92M | 66/100 | ||
9th |  Bounce Infinity 2014, Gurugram (India), Series F | Manufacturer of electric scooters featuring removable batteries for portable charging | $226M | 65/100 | |
10th |  Tork Motors 2010, Pune (India), Series B | Provider of high performance electric vehicles and charging infrastructure manufacturing solutions | $10.2M | 64/100 | |
12th | Developer of geared electric motorcycles and EV energy solutions | $82.7M | 61/100 |
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MATTER's Latest cap tables and shareholding
Founders (largest shareholder) own 37.49% and Angels own 4.82%. The net worth of MATTER's founders is INR 914Cr as of Sep 05, 2023.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 37.49% | 914Cr | 8236110 | 5666482 | 6152327 | 2936193 |
6055765 | 7744288 | 1820906 | 3711065 | 5007364 | 7100196 | |
401 | 229 | 204 | 700 | 760 | 600 | |
0 | 0 | 0 | 0 | 0 | 0 | |
Angel | 4.82% | 118Cr | 1753 | 7437 | 5380 | 5858 |
Total | 42.31% | 1,030Cr | 3788788 | 1468788 | 8917295 | 8208562 |
To unlock detailed Cap Table of MATTER Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of MATTER's Shareholding
MATTER's Investments and acquisitions
MATTER has made no investments or acquisitions yet.
Reports related to MATTER
Here is the latest report on MATTER's sector:
News related to MATTER
Filter this listMedia has covered MATTER for a total of 11 events in the last 1 year, 7 of them have been about company updates and 1 about partnerships.
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Matter Motor eyes $50 mn in fresh round at $300 mn valuationLivemint•Apr 06, 2026•MATTER, Capital 2B,
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SRK Techtronics and MATTER Demonstrate AI-Driven Manufacturing Collaboration at CESThe Tribune•Jan 12, 2026•MATTER, SRK Techtronics
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MATTER Expands Retail Network with New Experience Hub in Domlur, BengaluruOnline Media Cafe•Sep 18, 2025•MATTER
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