Matel Raises Rs 130 Crore to Expand Energy-Efficient Motor Manufacturing

Bengaluru: Pune-based Matel Motion & Energy Solutions, a manufacturer of energy-efficient motors, motor controllers and integrated powertrains, has raised ₹130 crore in a Series B funding round led by UC Impower . The funding round also saw Catamaran , the investment firm founded by Infosys co-founder N.R. Narayana Murthy, join as a new investor, while existing investor Transition VC participated in the round.

Founded in 2017, Matel develops energy-efficient and customised motors, motor controllers and integrated powertrains for electric vehicles, industrial equipment, pumping systems and cooling applications. The company has also developed magnet-free motor technology to reduce dependence on imported raw materials and supply chain risks. It is among the first Indian companies to manufacture PMSM-based IE5 ultra-high-efficiency industrial motors, while an IE6 motor is currently under development.

The fresh capital will be used to expand the company's manufacturing capacity, strengthen research and development, accelerate new product development and recruit additional engineering and production talent. Matel also plans to expand its presence in international markets while increasing its product portfolio, including solutions for the electric commercial vehicle segment.

Founder and CEO Sunil Patel said the investment validates the company's vision of building indigenous, energy-efficient mechatronics solutions for India and global markets. Co-founder Netaji Patro said the funding would help scale manufacturing, enhance innovation and accelerate global expansion.

Investors expressed confidence in Matel's technology-driven approach and its growing presence in the electric mobility and industrial sectors. UC Impower said energy-efficient technologies will play a key role in the next phase of industrial growth, while Catamaran highlighted Matel's strong engineering capabilities and intellectual property-led manufacturing model.

The company aims to strengthen its position as a leading provider of advanced motion and energy solutions, supporting India's transition towards electrification and sustainable industrial technologies.