Business

Vietnamese electric motorbike start-up gets foreign funding

Dat Bike, a Vietnamese technology start-up that plans to make electric motorbikes, has raised 2.6 million USD in a pre-series A funding from Singapore’s Jungle Ventures, Wavemaker Partners, Hustle Fund, and iSeed Ventures.
Vietnamese electric motorbike start-up gets foreign funding ảnh 1Dat Bike motorbike. (Photo: VNA)
HCM City (VNS/VNA) - Dat Bike, a Vietnamese technology start-up thatplans to make electric motorbikes, has raised 2.6 million USD in a pre-series Afunding from Singapore’s Jungle Ventures, Wavemaker Partners, Hustle Fund, andiSeed Ventures.

Electric motorbikes are usually weak and have a low range, delivering only halfthe performance of a petrol bike.

But Dat Bike claims its Weaver can rival petrol bikes in power and range, its5,000W motor helps accelerate from 0 to 50km/h in just three seconds, itscharging time is the fastest in the country at just under three hours, and itsbrake mechanism is tailored to the traffic situation in Vietnam.

Song Nguyen, founder and CEO of Dat Bike, said: “We want to transform the 250million gasoline bikes in Southeast Asia into electric vehicles. We believethat if given a choice everyone would pick electric over gas. It is just thatthe current electric motorbikes in the market lag behind in power and range,making it difficult for people to make the switch.

“The fresh funds will allow us to continue to innovate and create the mostcompelling electric motorbikes for Southeast Asia and the world.”

Amit Anand, founding partner of Jungle Ventures, said: “This investment in DatBike marks our first investment in the mobility sector which is rapidly gettingtransformed by technology. The 25 billion USD two-wheeler industry in SoutheastAsia in particular is ripe for reaping benefits of new developments in electricvehicles and automation.

“We believe that Dat Bike will lead this charge and create a new benchmark notjust in the region but potentially globally for what the next generation oftwo-wheeler electric vehicles will look and perform like.”

The Weaver can be bought on the company’s website and physical store in Ho ChiMinh City. It costs 39.9 million USD./.
VNA
#Dat Bike #technology start-up #Jungle Ventures #Wavemaker Partners #Hustle Fund #iSeed Ventures #petrol bikes #Vietnam #Vienam news #Vietnam News Agency
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