Matel raises Rs 130 crore Series B to scale EV powertrain manufacturing
Pune-based Matel Motion & Energy Solutions has raised Rs 130 crore (about $15 million) in a Series B led by UC Impower, with Catamaran and Transition VC participating. The EV powertrain maker will use the capital for manufacturing expansion, R&D, product development, hiring and international growth.
Pune-based EV powertrain maker Matel raised Rs 130 crore in a UC Impower-led Series B, joined by Catamaran and Transition VC. Funds will expand manufacturing, R&D, product development and hiring, while supporting international expansion.
Why this matters
No related recent Matel signals were provided. The Series B gives the EV powertrain maker capital to increase manufacturing capacity, develop products and pursue international expansion.
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