The Quick Update
What Happened
Pune-based EV powertrain company Matel Motion and Energy Solutions Pvt. Ltd. has secured ₹130 crore in a Series B funding round led by UC Impower, with participation from Catamaran and existing investor Transition VC. The fresh capital will support the company’s expansion in electric powertrain technologies and manufacturing capabilities.
The Key Number
₹130 crore raised in Series B funding.
Why It Matters
The investment reflects growing investor confidence in India’s EV component ecosystem. As demand for domestically developed motors and powertrains rises, the funding is expected to strengthen local manufacturing and accelerate innovation in electric mobility technologies.
The Core News
Matel Motion Series B funding marks a significant milestone for the Pune-based company as it secured ₹130 crore in fresh capital from UC Impower, Catamaran and existing investor Transition VC. Founded in 2017, Matel Motion develops and manufactures electric motors, motor controllers and integrated powertrain solutions for automotive and industrial applications, serving sectors such as electric vehicles, pumping systems and cooling technologies.
India’s EV industry is witnessing increased investments in component manufacturers as automakers focus on localizing critical technologies. Powertrain systems remain one of the most value-intensive components in an electric vehicle, making indigenous development essential for reducing import dependence and strengthening the domestic supply chain. Companies specializing in motors, controllers and integrated drive systems are therefore attracting greater investor interest as EV production scales across the country.
The latest funding is expected to help Matel Motion expand its research and development capabilities, scale manufacturing operations and strengthen its product portfolio for automotive and industrial customers. As India’s EV ecosystem continues to mature, investments in companies developing core powertrain technologies are expected to play an important role in improving localization, enhancing technology competitiveness and supporting long-term growth in electric mobility.
Breaking Down the Update
- Funding Round: Series B
- Amount Raised: ₹130 crore
- Lead Investor: UC Impower
- Other Investors: Catamaran and existing investor Transition VC
- Company: Matel Motion and Energy Solutions Pvt. Ltd.
- Founded: 2017
- Headquarters: Pune, Maharashtra
- Core Products: Electric motors, motor controllers and integrated powertrains
- Target Markets: Electric vehicles, industrial applications, pumping systems and cooling systems
- Expected Use of Funds: Manufacturing expansion, R&D and technology development
How Matel Motion Series B funding Will Help the Indian EV Market
India’s electric vehicle industry is rapidly moving toward higher localization, making domestic component manufacturers increasingly important. Matel Motion Series B funding will provide the company with additional resources to scale production of electric motors and integrated powertrain systems, helping reduce dependence on imported EV components.
The investment also supports the development of advanced indigenous technologies that can improve vehicle performance, efficiency and reliability. Stronger domestic manufacturing capabilities could enable Indian OEMs to access locally engineered powertrain solutions while improving supply chain resilience.
Beyond passenger vehicles, Matel Motion’s expertise in industrial electrification, pumping and cooling applications highlights the broader role electric powertrain technologies can play across multiple sectors. Continued investment in companies developing core EV technologies aligns with India’s ambitions to become a global manufacturing hub for electric mobility and advanced automotive components.
Conclusion & Next Steps
The Matel Motion Series B funding underscores growing investor confidence in India’s EV technology and component manufacturing sector. The company’s next phase will likely focus on expanding production capacity, advancing powertrain innovation and strengthening partnerships with automotive manufacturers. As India’s EV market continues to grow, investments in indigenous powertrain companies such as Matel Motion are expected to support greater localization, technological advancement and long-term competitiveness across the electric mobility ecosystem
