When was MATTER founded?

MATTER was founded in 2019 and raised its 1st funding round 3 years after it was founded.

Where is MATTER located?

MATTER is headquartered in Ahmedabad, India. It is registered at 301, PARISHRAM BUILDING, 5B RASHMI SOC., NR. MITHAKHALI SIX ROADS, NAVRANGPURA, Ahmedabad, AHMEDABAD, Gujarat, India, 380009.

Who is the current CEO of MATTER?

Mohal Rajivbhai Lalbhai of MATTER. They have also founded 2 companies and are an angel investors in 1 startup.

Which legal entities is MATTER associated with?

MATTER is associated with MATTER MOTOR WORKS PRIVATE LIMITED.

How many employees does MATTER have?

As of Jun 30, 2025, the latest employee count at MATTER is 427.

Is MATTER a funded company?

MATTER is a funded company, having raised a total of $108M across 9 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Jan 24, 2022.

How much is MATTER worth?

The latest valuation of MATTER is $***** as of Jun 26, 2025.

When was the latest funding round of MATTER?

MATTER's latest funding was a $***** Series C round on Aug 25, 2026, with participation from 4 investors.

What is the annual revenue of MATTER?

Annual revenue of MATTER is less than ₹10 Cr as on Mar 31, 2025

Where does MATTER rank among its competitors?

MATTER ranks 15th amongst 515 active competitors, of which 55 are funded. It stands 7th in terms of total funding among its competitors. The most recent competitor to raise funding was Rideriver, which secured $102M in Aug, 2026.

Who are the top competitors of MATTER?

MATTER's top competitors include Ather Energy, Gogoro and Oben Electric. Among them, MATTER secured the most recent funding round in August, 2026.

MATTER - 2026 Company Profile, Team, Funding, Competitors & Financials

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

Founded Year

2019

Location

Ahmedabad, India

Stage

Series C

Total Funding

$108M in 9 rounds

Latest Funding Round

Series C, Aug 25, 2026, $*****

Post Money Valuation

$***** as on Jun 26, 2025

Investors

Pioneer Projects Investment & 51 more

Ranked

15^th among 515 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2025

Employee Count

427 as on Jun 30, 2025

Similar Companies

Oben Electric & 328 more

View MATTER's full profile

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	0 - ₹10 Cr (As on Mar 31, 2025)	433 (As on Jul 01, 2025)

MATTER has raised a total funding of $108M over 9 rounds. Its first funding round was on Jan 24, 2022. Its latest funding round was a Series C round on Aug 25, 2026 for $*****. 4 investors participated in its latest round. MATTER has 37 institutional investors and 15 angel investors.

Here is the list of recent funding rounds of MATTER:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 25, 2026	1333582	Series C	2783478	5001015	9894494	6725669
Jun 26, 2025	6296572	Series B	8414709	9052844	7872579	Helena & 1 more
Dec 30, 2024	9316152	Series B	4073305	1942864	Pioneer Projects Investment	Smsc International Investment & 3 more

Access funding benchmarks and valuations. Sign up today!

View details of MATTER's funding rounds and investors

The founders of MATTER are Mohal Rajivbhai Lalbhai and Saran Babu. 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.
Contact Info: 1 email address and 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

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
Mohal Rajivbhai Lalbhai	Team	-	Current	7y 7m
dpmllbr	Team	-	Past	6y 1m
Amit Dilip Shah	Independent board member	-	Current	2y 6m
qdafwlr	Independent board member	-	Current	8y 6m
ykhpvto	Independent board member	-	Past	5y 5m
wl{wgvl	Independent board member	-	Past	2y 2m

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:

Uncover MATTER's growth story! Sign up today!

Access Tracxn on any website

Our Google Chrome extension lets you view company details while browsing their websites

Install Tracxn Extension

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:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Ather Energy 2013, Bengaluru (India), Public	Manufacturer of smart electric scooters with connected software, charging infrastructure, and ecosystem services	$502M	Hero MotoCorp, NIIF & 39 others	85/100
2nd	Gogoro 2011, Taipei (Taiwan), Public	Platform offering electric scooters and operator of battery swapping networks	$765M	Sumitomo Corporation, Generation Investment Management ... & 15 others	77/100
3rd	Oben Electric 2020, Bengaluru (India), Series A	Platform offering two wheeler motorcycle products	$37.6M	India Ev Angels, Stride Ventures & 87 others	75/100
4th	Ultraviolette 2016, Bengaluru (India), Series E	Manufacturer of electric motorcycles, components, rider safety equipment, and charging infrastructure	$149M	TVS Motor, Exor & 50 others	74/100
5th	Simpl Energy 2019, Bengaluru (India), Series B	Manufacturer of electric scooters designed for urban and long-distance travel	$98.9M	Vasavi Green Tech, Srinivas Balajee Enterprise ... & 131 others	67/100
6th	Ola Electric 2017, Bengaluru (India), Public	Manufacturer of electric scooters, motorcycles, and energy storage solutions	$1B	Temasek, Tiger Global Management & 72 others	66/100
7th	RapteeHV 2019, Chennai (India), Seed	Platform offering electric motorcycles	$15.9M	Pointel Solutions, Reliable Lifestyle Venture ... & 57 others	66/100
8th	Motovolt 2019, Kolkata (India), Seed	Manufacturer of electric bicycles mopeds and smart battery powered scooters	$1.92M	WAMI Capital, Sivaswamy Holdings & 22 others	66/100
9th	Bounce Infinity 2014, Gurugram (India), Series F	Electric scooter brand and mobility company	$226M	Accel, B Capital & 51 others	65/100
10th	Rideriver 2020, Bengaluru (India), Series C	Manufacturer of electric scooters designed for personal and professional use	$174M	Maniv Mobility, Al-Futtaim & 19 others	64/100
15th	MATTER 2019, Ahmedabad (India), Series C	Developer of geared electric motorcycles and EV energy solutions	$108M	Japan Airlines, LetsVenture & 50 others	57/100

Get insights and benchmarks for competitors of 2M+ companies! Sign up today!

Looking for more details on MATTER's competitors? Click here to see the top ones

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	5795185	7739844	2552102	5783343
Mohal Rajivbhai Lalbhai	8816504	3250990	2718965	1167821	8628524	2441141
Saran Babu	0	0	0	0	0	0
Angel	4.82%	118Cr	4754	9846	6874	7213
Total	42.31%	1,030Cr	2602121	5746523	7098529	3484144