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Matter

Category: AI in Climate / Energy

An innovation-led EV startup developing India's first geared electric motorcycles and a proprietary AI-defined vehicle (ADV) platform for high-performance sustainable mobility. Matter was founded in 2019. The company is led by Mohal Lalbhai. Based in Ahmedabad, India. Team size: 600+. Total funding raised: $82.6M. Latest round: Series B. Key investors include Helena, Capital 2B, Japan Airlines & Translink Innovation Fund, Baring Private Equity Partners, Saud Bahwan Group.

Founded
2019
Headquarters
Ahmedabad, India
Team size
600+
Total funding
$82.6M

Value proposition

Delivers a high-performance electric riding experience by combining a traditional 4-speed manual gearbox with advanced liquid-cooled battery technology and AI-driven vehicle intelligence.

Products and solutions

Matter Aera (India's first geared electric motorcycle), Matter Drive (Proprietary geared drivetrain system), Matter Energy (Liquid-cooled battery packs and management systems), Matter Link (Connected vehicle technology and mobile app), AI-Defined Vehicle (ADV) Platform (Next-gen architecture for future motorcycles and scooters)

Unique value

Pioneered the integration of a manual 4-speed gearbox into an electric motorcycle, maintaining the 'soul' of traditional biking while offering the efficiency of an EV.

Target customer

Tech-savvy urban commuters, performance-oriented motorcycle enthusiasts, and eco-conscious riders looking for a familiar geared riding experience in an electric format.

Industries served

Electric Vehicles (EV), Automotive Technology, Clean Energy & Storage, Internet of Things (IoT) & AI

Technology advantage

Full vertical integration with in-house design of the powertrain, electronics, and battery systems; features India's first liquid-cooled battery pack for two-wheelers to ensure safety and performance in high-temperature climates.

How they differentiate

Matter differentiates through its proprietary 4-speed manual gearbox (a first for Indian electric motorcycles) and an integrated liquid-cooled battery system, providing a familiar 'ICE-like' riding experience with superior thermal management for hot climates.

Main competitors

Tork Motors, Ultraviolette Automotive, Revolt Motors

Key partnerships

Helena (Lead Series B investor), Japan Airlines & Translink Innovation Fund, Capital 2B (United Phosphorous Ltd), Baring Private Equity Partners, Saud Bahwan Group

Notable customers

Retail consumers (B2C), Strategic partnerships for last-mile delivery trials

Major milestones

Launched Matter Aera, India's first geared electric motorcycle in 2023, Awarded 'Best Patent Portfolio' at the CII Industrial Intellectual Property Awards 2025, Secured $35M Series B funding led by Helena in July 2024, Unveiled AI-Defined Vehicle (ADV) platform for future product scaling

Growth metrics

Secured over 40,000 pre-bookings for the Matter Aera; expanded manufacturing capacity to 60,000 units per annum in Ahmedabad.

Market positioning

Premium performance electric motorcycle brand targeting tech-savvy enthusiasts and urban commuters.

Geographic focus

India (Primary), with strategic expansion interests in the Middle East and Asia-Pacific through investors like Saud Bahwan Group and Japan Airlines.

Patents and IP

Holds a portfolio of over 100 patents; awarded 'Best Patent Portfolio' at the CII Industrial Intellectual Property Awards 2025.

About Mohal Lalbhai

Mohal Lalbhai is a materials science engineer and a scion of the prominent Lalbhai business family (owners of Arvind Ltd). He founded Lalbhai Composite Solutions in 2014, focusing on advanced materials and composites. He has extensive experience in technology-led enterprises and product development, having served as a director for deep-tech startups like Ethereal Machines before founding Matter to disrupt the electric vehicle ecosystem.

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