The electric vehicle startup that aired Shark Tank has successfully called for $5.3 million in investment capital
Dat Bike, a Vietnamese electric motorcycle startup, has just announced a successful fundraising of USD 5.3 million in a Series A round led by Jungle Ventures fund with the participation of Wavemaker Partners.
Accordingly, the total mobilized capital of the company since its establishment officially reached 10 million USD. Dat Bike intends to use this new investment in technology development, production scale, expansion into major cities and tier 1 cities across the North – Central – South Vietnam, and recruitment. top talents.
In 2019, Dat Bike founder Nguyen Ba Canh Son brought the idea of an eco-friendly electric motorcycle to the Shark Tank Vietnam program. At that time, Shark Binh said electric motorbikes were a trend, but added to CEO Canh Son that “No one will buy my car”.
“What you’re doing in terms of business, in terms of market is a little bit wrong, wrong timing, wrong product, not to mention pricing and everything. I suggest you do something else.”
However, contrary to Shark Binh’s prediction, since then, Dat Bike has continuously grown, towards the larger goal of promoting green transport habits in Southeast Asia, converting 250 million vehicles. gasoline engine to electric motorbike.
According to CEO Nguyen Ba Canh Son, the competitive advantage of Dat Bikes lies in the same power as gasoline motorbikes. Dat Bike’s first series – Weaver (2019) is 3 times more powerful (5kW vs 1.5KW) and travels twice as long (100km vs. 50km) than most electric motorcycles in the same price segment.
In 2021, Dat Bike launches the second Weaver 200 series, which has twice the distance (200km) and is more powerful (6kW) compared to the Weaver. In addition, the charging time is also shortened to 1 hour for 100 km and 3 hours to fully charge for a distance of 200 km, while other conventional electric motorcycles need 6-8 hours of charging.
Since the launch of the Weaver 200 series (November 2021), Dat Bike has received a very positive response from customers, revenue increased 10 times despite the waiting time for car delivery up to 4 months. The company also opened a showroom in Hanoi in April 2022 and will soon open another store in Da Nang to meet the increasing demand of the market.
Founder and CEO of Dat Bike Nguyen Ba Canh Son.
Dat Bike founder and CEO Nguyen Ba Canh Son shared about the recent funding round: “Dat Bike is proud to be a pioneer on the journey of reorienting transport in Southeast Asia. With the progress made so far, we will continue to strive to produce new products. electric vehicle with performance equal to and better than gasoline vehicles We are proud to continue to partner with Jungle Ventures to expand across Vietnam.”
My Tran, Vice President of Jungle Ventures added: “The US$25 billion two-wheeler industry in Southeast Asia is entering the pinnacle of electrification. Mr. Son’s determination in efforts to electrify the two-wheeler market in Southeast Asia is clear. driven in large part by a keen awareness of the enormous threat that gasoline vehicles pose to the environment and from Dat Bike’s unmatched performance advantage.We are extremely proud to be partnered with Dat Bike as a leader in creating change in the region and shaping the global benchmark for high-performance electric motorcycles.”
Dat Bike has been rapidly completing the company leadership team. Specifically, Mr. Andrzej Bialasiewicz – a seasoned Marketing expert who worked at Carlsberg, SABMiller, and Reckitt Benckiser has been appointed Marketing Director; Mr. Ha Truong – a veteran designer of electric vehicles in Vietnam currently holds the position of Design Director; and Mr. Minh Pham – former Director of Product Strategy of Yamaha Vietnam is currently Head of Product Development Department of Dat Bike.
at Blogtuan.info – Source: genk.vn – Read the original article here
