Khaitan & Co, JSA act on Matel ₹130 crore Series B fundraise

Matel Motion and Energy Solutions Private Limited has raised ₹130 crore from a Series B fundraise led by UC Impower, with Catamaran joining as a new investor and Transition VC continuing its support as an existing investor.

Khaitan & Co advised Matel on this fundraise.

The transaction team consisted of Bhavik Narsana (Partner), Shweta Dwivedi (Consultant), Pragya Mishra (Associate) and Sakshi Mehta (Associate).

JSA Advocates and Solicitors advised UC Impower Fund, the lead investor, and Catamaran Ventures on this fundraise. The Firm assisted UC Impower on all aspects of the transaction, including advising on the term sheet, conducting legal due diligence on Matel, negotiating and finalising the definitive documents, and advising on pre-closing and closing actions. JSA also provided end-to-end transaction support to Catamaran, advising on the term sheet, negotiating definitive documents, and assisting until closing.

The transaction team advising UC Impower Fund was led by Gerald Manoharan (Partner) and Manuel Jose (Partner), with support from Harshita Agarwal (Senior Associate) and Shobika Veluprakash (Associate).

Manuel Jose (Partner), Harshita Agarwal (Senior Associate), Prerana Damaraju (Senior Associate), Associates Netra Vasudevan, Shobika Veluprakash and Shreeya Sucharita conducted due diligence.

The transaction team advising Catamaran Ventures was led by Probir Roy Chowdhury (Partner), with support from Moushami Nayak (Associate).

Matel is an Indian technology company which designs and manufactures energy-efficient motors, motor controllers and integrated powertrains for automotive and industrial applications, including electric vehicles, pumping and cooling systems.

The new capital will be allocated to increase the company's manufacturing capacity, enhance research and development efforts, speed up the creation of new products, and hire additional engineering and production personnel.

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