Vietnamese electric motorcycle startup Dat Bike has secured an $8 million funding round, bringing its total raised since inception to $16.5 million.
The round was led by returning investor, Singapore-based Jungle Ventures, with participation from GSR Ventures, Innoven Capital, Wavemaker Partners and Delivery Hero Ventures – the investment arm of parent company Foodpanda.
The startup will use the new round of funding to invest in technology, scale production, develop products and hire talent, said Nguyen Ba Son, founder and CEO of Dat Bike.
Founded in 2019, Dat Bike says its revenue has grown 10-fold in the past 12 months.
The launch of the latest model, the Weaver 200, has solved the performance and range issues as it has a maximum power of 6,000W, covering 200km on a 3-hour charge, Son said.
The startup has also launched Dat Charge, a super-fast charging station for its electric bikes that allows you to charge a 100 km ride in 20 minutes and a 150 km ride in 30 minutes. According to the company, this is the fastest charging speed for an electric bicycle in the country.
After four years of operation, Dat Bike has three stores in Ho Chi Minh City, Hanoi and Danang. It plans to enter other Tier 1 cities soon, including Quang Ninh, Haiphong, Nha Trang, Binh Duong and Can Tho.
https://www.retailnews.asia/electric-motorbike-startup-raises-another-8-mln/?utm_source=rss&utm_medium=rss&utm_campaign=electric-motorbike-startup-raises-another-8-mln The electric motorcycle startup has raised another $8 million