Matter Electric Bike, the electric motorcycle revolution just got a serious upgrade. Matter, an ambitious Ahmedabad-based startup, has thrown down the gauntlet to petrol bike giants with their game-changing Aera 5000+ electric motorcycle, priced at ₹1.93 lakh—and they’re not just dreaming big, they’re planning an IPO.
Table of Contents
The Bold Challenge to Petrol Powerhouses
Here’s what makes this launch extraordinary: Matter isn’t trying to compete with other electric bikes. Instead, they’re directly targeting beloved petrol motorcycles like the Yamaha R15 V4 (₹1.85 lakh), TVS Apache RTR 160 (₹1.18 lakh), Bajaj Pulsar NS200 (₹1.45 lakh), and KTM 200 Duke (₹2.06 lakh).
“We’re not competing with other EVs but with petrol motorcycles in the 150–200cc category,” declares Mohal Lalbhai, Matter’s founder and CEO. This isn’t just marketing talk—it’s a strategic battle cry that could reshape India’s motorcycle landscape.
What Makes Aera 5000+ a Game-Changer
The Aera 5000+ isn’t your typical electric bike. It packs features that make petrol bike enthusiasts take notice:
Revolutionary Gearbox Technology: India’s first electric motorcycle with a four-speed manual gearbox—yes, you read that right. Electric bikes with manual transmissions? Matter just made it reality.
Impressive Range: With a 5 kWh battery delivering a certified 172 km range, range anxiety becomes yesterday’s worry.
Performance-First Design: Liquid cooling system and connected features ensure this bike performs like the premium motorcycles riders love.
“With our gearbox, liquid cooling, and connected features, Aera is built for riders who want performance and convenience without compromise,” Lalbhai explains.
The Numbers Game: From Startup to IPO Dreams
Matter’s journey reads like a startup success story in the making. After operating in pilot mode until June 2025, they’re now aggressively expanding across six major states: Maharashtra, Gujarat, Karnataka, Tamil Nadu, Andhra Pradesh, and Kerala.
Their growth strategy is ambitious yet calculated:
- Current footprint: 7 dealerships
- 2026 target: 150 dealerships
- Sales goal: 50,000 units next year
- Break-even timeline: 3-5 years with 20,000-25,000 monthly units
The Money Trail: $75 Million and Counting
The startup recently closed a substantial $35 million Series B funding round, bringing total funding to $75 million and pushing their valuation to $230 million. But they’re not stopping there—Matter plans to raise an additional $125 million over the next three to four years as part of a broader $200 million fundraising strategy.
With backing from heavyweight investors including US-based Helena, Capital 2B, Japan Airlines & Translink Innovation Fund, and SB Invest, Matter has the financial muscle to challenge established players.
Innovation at the Core
Matter isn’t just assembling components—they’re building from scratch. The company has filed over 350 patents, developing core components like battery packs, gearboxes, and powertrains in-house. They’re even working with US firms on non-rare-earth motor technologies to future-proof their supply chain.
The IPO Vision: Public Listing in Sight
Perhaps the most exciting revelation? Matter is targeting a public listing within the next three to four years, contingent on hitting revenue and growth milestones. For a startup that was in pilot mode just months ago, this timeline reflects serious confidence in their market disruption potential.
Why This Matters for India’s Motorcycle Future
“India’s motorcycle market is largely untouched by electrification,” Lalbhai observes. “As more consumers get options like Aera, we believe adoption will accelerate much like it did in scooters.”
This statement captures the massive opportunity ahead. While electric scooters have gained traction, the motorcycle segment—especially the performance-oriented 150-200cc category—remains dominated by petrol engines.
Matter’s Aera 5000+ represents more than just another electric bike launch. It’s a calculated assault on petrol’s dominance, backed by serious funding, genuine innovation, and IPO ambitions that could reshape how India rides.
