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Electric moterbike startup Dat Bike received Jungle Ventures, others led $8 M

A fundraising round headed by Jungle Ventures and included GSR Ventures, Wavemaker Partners, Innoven Capital, and Delivery Hero Ventures—the investment arm of Foodpanda’s parent company—raised $8 million for Dat Bike, an electric motorcycle startup located in Vietnam.

The agreement brings Dat Bike’s total investment generated to date to US $16.5 million.

In comparison to other alternatives, Dat Bike, a 2019 startup, claims that their electric motorbikes have a 4x longer range (200 kilometers against 50 kilometers) and a shorter charging time (3 hours versus 6 hours). The company’s creation is acknowledged as the first locally produced electric bike by the Vietnam Ministry of Transportation.

The business recently released a Dat Charge charging station solution, which it claimed could charge for journeys up to 100 kilometers in only 20 minutes.

Since its founding, three official stores have been established in Ho Chi Minh City, Hanoi, and Da Nang. In the upcoming months, it intends to expand into more Tier 1 cities around the nation, including Quang Ninh, Hai Phong, Nha Trang, Binh Duong, and Can Tho.

Son Nguyen, a former senior software engineer at the US-based asset management platform Addepar, founded Dat Bike. The company claimed in a statement that in the previous 12 months, its revenue had multiplied by ten.

With the additional funding, the startup intends to increase staffing in the areas of sales, support, research, and product development. Additionally, it wants to make its product better and boost factory output.

 

 

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