Khaitan & Co acts 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 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).

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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