Vietnamese electric motorcycle startup Dat Bike has just raised another 8 million USD, bringing the total amount raised to 16.5 million USD.

Leading the round is Jungle Ventures, with participation from GSR Ventures, Delivery Hero Ventures, Wavemaker Partners, and Innoven Capital. Thus, the total amount Dat Bike has raised so far is 16.5 million USD.

“With this new capital, we will invest in improving production quality, expanding factory scale, and continuously improving products for Vietnamese users as well as many other development plans”, Nguyen Ba Canh Son, Founder and CEO of Dat Bike, said.

Dat Bike currently has 3 stores in Ho Chi Minh City, Hanoi, and Da Nang. It plans to open more in Quang Ninh, Hai Phong, Nha Trang, Binh Duong, and Can Tho.

My Tran, Vice President of Jungle Ventures, said that this is the third time the fund has poured capital into Dat Bike thanks her optimism about the potential of this startup as well as the Vietnamese electric vehicle industry. “We are confident that Dat Bike will lead the transition to green vehicles not only in the region but also globally,” said Ms. My Tran.

Dat Bike was founded in 2019 by Mr. Nguyen Ba Canh Son, a software engineer who used to work in Silicon Valley. According to self-published information, the electric motorcycle company’s revenue has increased 10 times in just the past 12 months.

The company’s latest model – Weaver 200 can travel 200 km and owns a capacity of 6 kW, far exceeding popular electric vehicles with a performance of 50 km and 1.5 kW. The Weaver 200 only needs one hour to charge for 100 km and 3 hours to fully charge for 200 km, while other electric motorcycles take up to 6-8 hours.

Recently, Dat Bike also launched the first super-speed charging station for two-wheelers – Dat Charge, shortening the charging time to a third, with 20 minutes of charging for 100 km, instead of 60 minutes like other normal charging station. This startup is also preparing to launch a new model soon.

Brendon Blacker, Managing Partner at Delivery Hero Ventures, said that the startup has the potential to compete with petrol motorbikes in both cost and performance in a nearly $25 billion two-wheeler industry in the Southeast Asia.

Source: vnexpress.net