Tech startup Matter raises $10 mn to scale up e-mobility, energy storage

Info Edge-backed technology fund Capital 2B, Climate Angel Fund lead investors in Matter's first external round of funding

Ahmedabad-based tech and EV startup Matter has raised $10 million (Rs 78 crore roughly) in a round led by Info Edge-backed technology fund Capital 2B. The firm plans to use the funds for the launch of its upcoming electric two-wheeler that will feature the country's first active liquid-cooled battery.

In its first round of external fund raising, Matter expects to raise another $10 million even as it plans to deploy the capital towards continuous technological innovations, manufacturing, and marketing. While the flagship firm Matter is engaged in development of e-two-wheelers which it plans to launch later this year, the company's