• Mobility and energy solutions startup Matel  secures $4 million.

  • The round was led by Transition VC.

  •  Matel sets its sights on achieving annual sales exceeding Rs 100 crore by the upcoming year.


Mobility and energy solutions startup Matel recently achieved a significant milestone, securing $4 million in its Series A funding round. Spearheaded by Transition VC, this investment round also welcomed the participation of Gruhas and Haresh Abichandani, marking a pivotal moment in Matel’s journey towards innovation and growth.

Established in 2017, Mattel has been at the forefront of revolutionizing various industries through its cutting-edge technologies. Specializing in the production of synchronous machines and motor controllers, Matel caters to a diverse array of sectors including e-mobility, industrial applications, agricultural pumping, and HVAC systems. Its core expertise lies in the development and manufacturing of high-efficiency electric motors and controllers, offering comprehensive powertrain solutions to original equipment manufacturers (OEMs) operating within the electric vehicle (EV) and industrial domains.

With a relentless commitment to excellence, Matel successfully commenced mass production of powertrains in April 2024, following rigorous validation and certification procedures conducted by leading EV OEMs. This milestone underscores Matel’s dedication to delivering superior-quality products that meet the stringent standards of the industry.

Looking ahead, Matel is poised to expand its product offerings further, targeting the commercial vehicle (CV) segment with traction and auxiliary applications. These products are specifically tailored for the 350V segment, boasting power outputs of up to 100 KW. Moreover, Matel is actively engaged in the design phase of products aimed at the 600V range, delivering a formidable power output of 200 KW, slated for release in the fiscal year 2026.

In alignment with its strategic roadmap, Matel is gearing up to venture into the defence sector, aiming to provide bespoke electric motors tailored to meet the unique demands of defence applications. Bolstered by an already robust order book and concrete plans for expanding its product portfolio, Matel sets its sights on achieving annual sales exceeding Rs 100 crore by the upcoming year.

The trajectory of Matel’s growth is underpinned by a steadfast commitment to innovation, quality, and customer satisfaction. Through strategic partnerships, relentless R&D efforts, and a keen focus on market needs, Matel continues to redefine industry standards and drive positive change across diverse sectors.

As the global landscape increasingly embraces sustainable mobility solutions, Matel remains poised to lead the charge, empowering industries with efficient, eco-friendly technologies that pave the way for a brighter, more sustainable future. With a clear vision and unwavering determination, Matel is set to embark on a transformative journey, ushering in a new era of mobility and energy solutions.