Malaysia’s iMotorbike raised $10 M Series A funding to drive regional growth

The $10 million Series A funding round for IMotorbike, a Malaysian platform for buying and selling used motorcycles, has been successfully completed.

According to a statement released by iMotorbike on Tuesday, the round was led by the international venture capital firm Headline and included participation from other well-known venture capital firms, including Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst.

The most recent funding was led by Headline, and the first tranche of the Series A round was finished in June 2023.

The statement claims that this funding will be crucial to iMotorbike’s growth in Malaysia, where the company intends to establish new showrooms and inspection centers in strategic areas like Penang and Johor.

The business also plans to increase its workforce by hiring qualified mechanics and operations personnel with the new funding.

Plans for expansion will also go beyond Malaysia; a new location in Taiwan is presently in the works.

“This funding validates the work we have done and the potential of pre-owned motorcycles in Southeast Asia. With this funding, we are excited to take iMotorbike to the next level,

“Beyond expanding our footprint in Malaysia and opening in Taiwan, we will continue improving our platform and scaling our operations to meet the growing demand,” said Gil Carmo, Co-founder and Chief Executive Officer of iMotorbike.

He hopes the company can continue to lead the industry in setting new standards and help everyone have easier access to used motorcycles.

With 2025 in mind, Providing a reliable, easy-to-use platform for motorcycle transactions is still iMotorbike’s mission.

With a larger workforce and new markets opening, the company said it is well-positioned to maintain its remarkable growth and establish its dominance in Southeast Asia and beyond.

“IMotorbike has shown remarkable vision and execution in addressing the gaps in the pre-owned motorcycle market,

“Their focus on quality, transparency, and customer satisfaction has enabled them to become the leader in this space, which is a growing market,” said Akihiko Okamoto, Partner at Headline Asia.

The statement claims that the opening of the Glenmarie showroom in 2024—a three-story, 46,806-square-foot structure in the center of Selangor—has contributed to the acceleration of iMotorbike’s growth in Malaysia.

10,000 clients is a noteworthy milestone for the company.

“We first invested in iMotorbike in 2017, and remain confident that the used motorcycle market globally will remain resilient as riders seek affordable and reliable solutions amid economic uncertainties,

“As early movers, we believe the team has built over the last 8 years a blueprint for trust and convenience in the motorcycle marketplace, putting them in a strong position to lead this mobility trend far beyond Southeast Asia,” shared Khailee Ng, Managing Partner, 500 Global.

By emphasizing customer convenience and trust, iMotorbike has established a significant presence in Malaysia and Vietnam since its founding in 2016.