• Gujarat's Matter start-up plans to launch as many as 4 new electric bikes by raising funds of 240 crores.
• With a total capital of Rs 1,000 crore and 111 patents, the company will expand its production and supply chain significantly.
• All these bikes will be based on Aera platform with manual gearbox and 172 km range.

Gujarat (Ahmedabad) based electric vehicle manufacturer start-up 'Matter' has raised around Rs 240 crore in its new growth capital round. The company will use this new capital to expand its manufacturing, supply chain, sales network and launch 4 new electric bikes in the next 12 to 24 months.

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Aero The new bikes will be based on the platform

All four new electrics coming in the next 1 to 2 years Bikes These will be based on the 'Aera' platform. It will use the company's in-house powertrain, battery and software architecture. These new variants will be designed for different riding segments using the actual experience of the cars currently in the market. The company has its own battery and powertrain manufacturing, and is supported by a network of over 150 suppliers.

Matter Aera Special features of the bike

• Patents and Technologies: The company currently holds 111 granted patents.
• Gearbox: It gets a unique 4-speed manual transmission (gear system).
• Battery and Charging: A liquid-cooled battery pack and an on-board charging system are provided, which can also be charged from a common 5-amp household socket.
• Range and Features: This bike offers a certified range of 172 km. It features a 7-inch touchscreen display with navigation, music and call connectivity.

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New funds and capital

With this latest funding round, Matter has so far raised a total capital of around Rs 1,000 crore. Of this, more than Rs 750 crore has already been used by the company for research and development (R&D), manufacturing and market penetration. Currently, the waiting list of customers for the company's first electric bike 'Aera' is continuously increasing.