Matel Motion & Energy Solutions secures INR 130 Cr in Series B funding led by UC Impower

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A Pune based motor manufacturer, Matel Motion & Energy Solutions raised INR 130 crore in a Series B funding round led by UC Impower, an early-growth-stage fund investing in Climate Solutions and Financial Services.

Founded in 2017, Matel also designs and manufactures integrated powertrains for automotive and industrial applications, including EVs, Pumping and Cooling systems. The company is among the first in India to offer PMSM-based IE5 ultra-high-efficiency industrial motors, with an IE6 product currently under development.

“We are thrilled to welcome New Investors (UC Impower and Catamaran) as our new partners in this journey, and we are deeply grateful to our existing investors (Transition VC, Gruhas and Haresh Abichandani) for their continued belief and support from day one,” said Sunil Patel, Founder & CEO, Matel Motion & Energy Solutions

“In addition to R&D, and manufacturing capacity expansion, this capital will support expanding our product range and entry into the Electric CV segment as well as broadening the company’s international footprint to acquire new customers worldwide,” said Netaji Patro, Co-founder & CMO, Matel Motion & Energy Solutions

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