What is Matel?
Matel Motion and Energy Solution Private Limited operates at the intersection of electrical engineering and industrial automation. The company specializes in the design and manufacturing of high-performance electric motors and electric vehicle powertrain solutions. By integrating deep-tech capabilities with manufacturing excellence, Matel addresses the critical need for energy efficiency in both industrial motor systems and the automotive sector. Headquartered in Pune, the firm serves as a cornerstone for sustainable mobility, providing the essential hardware required to transition conventional industrial and automotive powertrains to cleaner, more efficient electric alternatives.
How much funding has Matel raised?
Matel has raised a total of $19M across 2 funding rounds:
Series A
$4M
Series B
$15M
Series A (2024): $4M, investors not publicly disclosed
Series B (2026): $15M led by Transition VC, Catamaran Ventures, and UC Impower
Key Investors in Matel
Transition VC
Transition VC is India's first energy-transition focused venture capital fund that invests in early-stage, engineering-led companies developing deep-tech solutions in energy, electrification, storage, and industrial decarbonisation.
Catamaran Ventures
Catamaran is an investment firm that catalyzes disruptive business ideas from bold and passionate entrepreneurs, focusing on early-stage and growth capital investments across technology and manufacturing sectors.
UC Impower
UC Impower invests in entrepreneurs developing innovative companies aimed at enhancing accessibility, inclusivity, and environmental sustainability in India, with a specific emphasis on gender-lens investing.
What's next for Matel?
With the infusion of this latest capital, Matel is well-positioned to accelerate its research and development initiatives, particularly in the realm of next-generation powertrain technologies. The strategic backing from specialized energy-transition investors suggests a roadmap focused on scaling production capacity and deepening its footprint in the industrial decarbonisation market. Moving forward, the company is expected to leverage these resources to enhance its competitive advantage in the electric vehicle supply chain, potentially expanding its reach into broader industrial automation markets where energy efficiency remains a primary driver of capital expenditure. The firm's ability to maintain engineering excellence while scaling operations will be the primary determinant of its long-term market dominance.
See full Matel company page
