Matel Secures Significant Investment in Series B Round
In a significant development for the Indian technology sector, Matel Motion and Energy Solutions Private Limited has successfully raised ₹130 crore through a Series B fundraising round. This financial milestone was led by UC Impower, with Catamaran joining as a new investor and Transition VC reinforcing its ongoing support as an existing backer.
Khaitan & Co’s Role in the Transaction
Renowned law firm Khaitan & Co played a pivotal role in advising Matel throughout this fundraising process. The legal team was spearheaded by Bhavik Narsana, a partner at the firm, alongside Shweta Dwivedi, a consultant, and associates Pragya Mishra and Sakshi Mehta.
Matel’s Technological Footprint
Matel is an innovative Indian company specializing in the design and manufacture of energy-efficient motors, motor controllers, and integrated powertrains. These products have applications in the automotive and industrial sectors, including electric vehicles, pumping systems, and cooling solutions.
Strategic Allocation of Funds
The newly acquired capital is set to drive Matel’s growth strategy forward. The company plans to expand its manufacturing capabilities, boost research and development initiatives, accelerate the creation of new products, and recruit additional engineering and production talent.
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