Participated · Series A · May 2024

Founded in 2017 by Sunil Patel and Netaji Patro and based in Pune, Matel designs and manufactures energy-efficient motors, motor controllers and integrated powertrains for automotive and industrial uses. Its products target applications including electric two-wheelers, three-wheelers, pumping and cooling systems, and it is already in series production with multiple original equipment manufacturers across two-wheeler, three-wheeler and industrial segments. The company plans to broaden its product portfolio and enter the electric commercial vehicle segment. Matel intends to scale manufacturing capacity, strengthen R&D, accelerate product development and expand engineering and production teams as part of its growth plans. Leadership brings sector experience—Patel led the Chetak EV development programme at Bajaj Auto and Patro held R&D roles at Maruti Suzuki and Bajaj Auto.