FCC

Matter Group secures $ 35 mn funding from Helena and other US investors

2024-07-08

EV and energy storage startup Matter Group announced that it had secured $35 million in the ongoing Series B funding round, led by the US-based problem-solving organization Helena. This funding will be used to enhance the company's manufacturing, supply chain, marketing, and retail expansion to meet the increasing demand for sustainable, high-performance mobility solutions.

The funding round saw participation from several investors, including Capital 2B, Japan Airlines, Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest), and other institutional investors and Family Offices. The announcement emphasized that Helena's involvement came through its venture capital arm, highlighting the organization's role in leading the investment round.

Matter Group expressed that the funding validates its innovative approach to electric vehicles, underscoring its commitment to empowering mobility and fostering a cleaner future. The company aims to create accessible, reliable, and high-performance products driven by advanced technology.

Founder and CEO of Matter Group, Mohal Lalbhai, remarked that the company was excited to onboard Helena and other notable investors. He stated that the raised funds would support Matter Group's mission to develop cutting-edge products in the electric vehicle market.