Matel designs and manufactures electric motors, motor controllers and integrated powertrains for electric vehicles and industrial applications, spanning two-wheelers to buses and off-road vehicles alongside pumping, HVAC and industrial systems. It began mass production of powertrains in April 2024 and has developed magnet-free motor technology and IE5 industrial motors.
1StartupFox story
2017Founded
EV Powertrains & Industrial MotorsSector
Aug 2026Latest coverage
Funding
Matel has raised $19M across 2 disclosed rounds.
$19MRaised
$15MLatest round
2Events
Chart appears once 1 more funding round is recorded — below that a chart shows less than the table does.
Not disclosed
Aug 2026Round$15MUC Impower, Catamaran, Transition VC Not disclosed
May 2024Round$4MTransition VC, Gruhas, Haresh Abichandani Not disclosed
Investor roster
Every disclosed backer and how often they've written a cheque — repeat names are the strongest conviction signal on the cap table.
New · Latest leadUC Impower1 round · 2026
Transition VC2 rounds · since 2024
Catamaran1 round · 2026
Gruhas1 round · 2024
Haresh Abichandani1 round · 2024
Aggregated automatically from the disclosed rounds above.
Financials
Revenue and profit after tax as filed with the Registrar of Companies.
Founded in Pune to design and manufacture synchronous machines and motor controllers for e-mobility, industrial applications, agricultural pumping and HVAC. ↗
Apr 2024 · milestone
Begins mass production of EV powertrains after validation and certification by multiple electric vehicle manufacturers. ↗
May 2024 · funding
Round — $4M at Not disclosed, led by Transition VC.
Aug 2026 · funding
Round — $15M at Not disclosed, led by UC Impower.
The rest of Matel's profile is free
Every funding round with its source, verified financials, leadership and the full journey timeline — sign in once and it stays unlocked.
Matel designs and manufactures electric motors, motor controllers and integrated powertrains for electric vehicles and industrial applications, spanning two-wheelers to buses and off-road vehicles alongside pumping, HVAC and industrial systems. It began mass production of powertrains in April 2024 and has developed magnet-free motor technology and IE5 industrial motors.
Who founded Matel?
Matel is associated with Sunil Patel, Netaji C Patro.
How much funding has Matel raised?
Matel has raised $19M across 2 disclosed rounds. The most recent was a $15M round in Aug 2026.
Who are Matel's investors?
Disclosed investors in Matel include UC Impower, Catamaran, Transition VC, Gruhas, Haresh Abichandani.
What is Matel's valuation?
Matel was last reported at Not disclosed, at the time of its round in Aug 2026.
Is Matel profitable?
Per its FY25 standalone filing, Matel reported ₹51 Cr in revenue.
What is the latest news on Matel?
The most recent StartupFox coverage is “Matel Raises ₹130 Crore in Series B Led by UC Impower to Expand Motor Manufacturing Capacity” (3 August 2026). All stories are listed on this page.
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