Electrical motor and powertrain producer Matel Movement & Power Options has raised Rs 130 crore in a Collection B funding spherical led by early-growth investor UC Impower.

Catamaran joined the spherical as a brand new investor, whereas current backer Transition VC additionally participated.

The Pune-based startup will use the funding to develop its manufacturing capability, strengthen analysis and improvement, speed up product improvement and recruit extra employees throughout its engineering and manufacturing groups.

It additionally plans to broaden its product portfolio, enter the electrical industrial car section and develop internationally.

Based in 2017, Matel designs and manufactures energy-efficient motors, motor controllers and built-in powertrains for automotive and industrial purposes, together with electrical automobiles, pumping tools and cooling methods.

Its portfolio consists of magnet-free motor know-how and permanent-magnet synchronous IE5 industrial motors. An IE6 motor is underneath improvement, in line with the corporate.

“Securing this funding is a big milestone for Matel,” co-founder and CEO Sunil Patel mentioned.

“With this capital, our major focus shall be accelerating our product roadmap with superior R&D infrastructure and increasing our state-of-the-art manufacturing set-up,” he mentioned.

Patel beforehand led the Chetak electrical car improvement programme at Bajaj Auto. Co-founder Netaji Patro has held analysis and improvement management roles at Maruti Suzuki and Bajaj Auto.

Matel beforehand raised $4 million in a Collection A funding spherical led by Transition VC in Could 2024. Gruhas and investor Haresh Abichandani additionally participated in that spherical.