An oversubscribed seed funding round led by The Radical Fund and co-led by Bali Investment Club (BIC) was successfully closed by Dash Electric, an electric vehicle (EV)-as-a-service startup based in Indonesia, on Wednesday. According to a statement from the company, other investors in the round include Kevin Aluwi, co-founder and former CEO of Gojek, Aksara Ventures, and Schneider Electric Energy Access Asia (SEEAA). Antler, a returning investor who initially supported Dash Electric during its pre-seed round, took part as well. However, neither the funding amount nor the valuation have been made public.
Dash Electric intends to expand its EV fleet, step up driver onboarding efforts, and create proprietary software to improve fleet management with the new funding. To further optimize operations, a major focus will be on creating smooth API integrations with clients.
“Our mission is to make EV adoption effortless for both businesses and drivers,
“With Dash, companies no longer need to worry about logistics—our infrastructure handles it all, so they can focus on their core business,” said Aditya Brahmana, Dash’s Chief Executive Officer and Co-founder.
Dash Electric is a game-changer for Indonesia’s logistics industry, according to the Radical Fund, which spearheaded the investment round.
“Dash stands out as a logistics company with a unique potential to disrupt the market through proprietary technology that offers customers competitive pricing while delivering a truly sustainable solution.
“We are especially proud to support two co-founders with over 25 years of combined expertise in supply chain management and logistics, drawn from Southeast Asia’s leading scale-ups and corporates,” said Alina Truhina, Chief Executive Officer and Managing Partner of The Radical Fund.
This experience, in her opinion, distinguishes Dash and puts it in a position to grow rapidly and become a scaled business and potential unicorn in Indonesia.
“After years of monitoring the EV market and evaluating opportunities aligned with our mandate, we chose Dash for its substantial growth potential, strong alignment with government initiatives, and the extensive expertise Aditya and Robert bring to the table,
“We believe Dash is exceptionally positioned to meet market demand with its customizable solution that addresses environmental challenges while providing drivers with stable income,” said Nicolo Castiglione, Managing Partner at Bali Investment Club (BIC), an angel network that invests in ventures driving waste recovery, carbon dioxide (CO2) reduction, and improved incomes for low-income communities through responsible, scalable growth.
By offering green supply infrastructure to companies, Dash Electric, which was founded in 2023 by seasoned mobility and logistics veterans Aditya Brahmana and Robert Mulianto, hopes to hasten the adoption of electric vehicles in Indonesia. The company wants to be at the forefront of the shift as Indonesia strives to have all EVs in use by 2040. To date, Dash Electric has made it possible for over dozens of clients in industries like food delivery, e-commerce, logistics, and retail to carry out sustainable, smooth deliveries.
