Dat Bike successfully raised capital of 5.3 million USD

Leading the round is Jungle Ventures, with participation from Wavemaker Partners. Thus, the total amount of money raised by the company since its establishment has reached 10 million USD. Dat Bike intends to use the new investment in technology development, production scale, expand the market to major cities and first-class cities nationwide, and recruit more talents.

In 2019, Nguyen Ba Canh Son, Founder and CEO of Dat Bike brought the idea of ​​an eco-friendly electric motorcycle to a TV fundraising program and attracted attention. Since then, Dat Bike aims to participate in the popularization of electric two-wheelers instead of petrol cars not only in Vietnam but also in Southeast Asia.

According to this startup, their competitive advantage lies in the power of electric vehicles on par with gasoline motorbikes. The first model Weaver (2019) travels twice as long (100 km compared to 50 km) than most electric motorcycles in the same price segment.

By 2021, they have released the second Weaver 200, which can double the distance (200 km). Charging time is also shortened to one hour for 100 km and 3 hours to fully charge for a distance of 200 km.

According to Son, since the announcement of the Weaver 200 series in November 2021, revenue has increased 10 times despite the waiting time for car delivery up to 4 months. They just opened a store in Hanoi this month and plan to open another store in Da Nang.

At the same time, the company also gradually improved the leadership team. Mr. Andrzej Bialasiewicz – a marketing specialist who has worked at Carlsberg, SABMiller, and Reckitt Benckiser has been appointed Marketing Director. Mr. Ha Truong – a veteran designer of electric vehicles in Vietnam is holding the position of Design Director. And Mr. Minh Pham, Former Director of Product Strategy at Yamaha Vietnam, is currently Head of Product Development.

Jungle Ventures is a Singapore-based venture capital fund that focuses on early stage startups in Southeast Asia and India. In Vietnam, they have invested in KiotViet, Mio, Medici and Timo.

My Tran, Vice President of Jungle Ventures, assessed that the $25 billion two-wheeler industry in Southeast Asia is entering the peak of electrification. In particular, Dat Bike’s opportunity lies in the increasing awareness of consumers about the environmental impact of gasoline cars, as well as the advantage in performance of the company’s products compared to other products in the same segment. .

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