Introduction
UrbanZmatter brings you the
latest insights into the electric vehicle industry. Today, we spotlight Dat Bikes, a Vietnamese producer of electric
bikes founded by Son Nguyen in 2018. This technology startup aims to drive the
mass adoption of electric vehicles in Vietnam and across Southeast Asia.
Dat
Bikes' Innovations and Headquarters
Headquartered in Ho Chi Minh
City, Vietnam, Dat Bikes is at the forefront of electric vehicle technology.
The newest model, the Weaver
200, boasts an
impressive range of 200 km, four times the typical 50 km range of ordinary
electric bikes. Additionally, its charging time is significantly reduced to
just 3 hours for 200 km, compared to 6-8 hours for other bikes.
Founder’s
Vision and Company Goals
Son Nguyen, the founder of Dat
Bikes, emphasizes the company's goal of converting gasoline bike users to
electric bikes, backed by strong after-sales support.
Details
about the New Funding Round
Recently, Dat Bikes raised $8
million in a new funding series, increasing the total capital raised to $16.5
million. The round was led by Jungle
Ventures, with
participation from GSR
Ventures, Hero Ventures, Innoven Capital, and Wavemaker Partner.
Investor
Support and Company Growth
Son Nguyen expressed pride in
the progress made, aiming to outperform gasoline vehicles with electric
alternatives. Over the past 12 months, Dat Bikes has seen a tenfold increase in
revenue, attributed to their innovative approach and customer satisfaction.
New
Ultra-Fast Charging Stations
Dat Bikes has also launched
ultra-fast charging stations for two-wheelers, reducing charging time by
threefold and providing 100 km of charge in just 20 minutes.
Utilization
of Fresh Funds
The new capital will enhance Dat
Bikes' technology and product development, support bulk hiring across various
departments, and expand their market reach. The company plans to extend its
presence beyond Hanoi, Ho Chi Minh City, and Da Nang to other major cities,
including Hai Phong, Quang Ninh, Nha Trang, Can Tho, and Binh Duong.
Investor
Confidence and Future Prospects
Jungle Ventures' vice
president, My Tran, praised Dat Bikes' team and execution, expressing
confidence in their leadership in transforming transportation in Vietnam and globally.
Similarly, Delivery Hero Ventures' managing partner, Brendon Blacker,
highlighted their excitement to support Dat Bikes' mission of electrifying
Southeast Asia's two-wheel vehicle industry.
Conclusion
Dat Bikes' recent $8 million
funding will significantly bolster the company's technology, product
development, and market expansion. With support from prominent investors like
Jungle Ventures, GSR Ventures, Hero Ventures, Innoven Capital, and Wavemaker
Partner, Dat Bikes is poised to revolutionize electric transportation in
Vietnam and beyond.
FAQs
Q1. Who was the lead investor in this
round?
Ans. Jungle Venture was the lead investor.
Q2. Who were the other
investors who participated in this funding?
Ans. GSR Ventures, Hero Ventures, Innoven Capital, and Wavemaker Partner.
Q3. How much capital
has been raised?
Ans. $8 million.
Q4. What was the aim
behind the fundraising?
Ans. To improve the company’s technology and products along with its
development, to acquire bulk hiring across sales, research, and development
(R&D), support, and product teams, and also to expand their roots beyond
Vietnam.
Q5. Where is the head
office of Dat Bike?
Ans. Ho Chi Minh City, NA, Vietnam.
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