Matel raises ₹130 Cr Series B to scale EV components manufacturing
Pune-based Matel Motion & Energy Solutions has raised ₹130 crore in a Series B led by UC Impower. The EV components maker will use the capital to expand manufacturing, R&D, product development and engineering talent, including a push into electric commercial vehicles.
Pune-based EV components maker Matel Motion & Energy Solutions raised ₹130 crore in Series B funding led by UC Impower to expand manufacturing, R&D, product development and engineering hiring, including entry into electric commercial vehicles.
Why this matters
Matel’s ₹130 crore Series B follows a recent signal on its plan to scale EV powertrain manufacturing, extending the company’s focus on capacity, R&D and commercial EV components.
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