Dat Bike is for a objective to place more electric bikes on Vietnam’s roadways. The startup stated today it offers raised $8 million led by coming back investor Singapore-based company Jungle Ventures, simply seven months as a result of its very first round of financing had been established. GSR Ventures and Delivery Hero Ventures additionally took part in this round, and Wavemaker Partners and Innoven Capital.
The brand new round brings Dat Bike’s total raised to $16.5 million. It’ll utilize its brand new financing on technology and item development, employing for the product sales, help, R&D and item groups, and building more ability in its factories.
Dat Bike had been established in 2018 by Son Nguyen, whom discovered developing bikes from scrap while being employed as a pc software engineer in Silicon Valley. The business states that more than yesteryear year, its income is continuing to grow 10x.
Its bikes can be bought through three shops in Ho Chi Minh City, Hanoi and Da Nang, with increased shops in the offing. It’ll expand to Quang Ninh, Hai Phong, Nha Trang, Binh Duong and may Tho within the next couple of months.
Dat Bike can also be available through on the web networks and shops, with intends to obtain a quick feedback cycle to boost the rate of innovations and developments in each launch of its items.
Nguyen told TechCrunch that since Dat Bike’s final financing round, it offers scaled its manufacturing ability and go-to-market groups while continuing to buy research and development. Dat Bike can also be obtainable in all three parts of Vietnam now.
Dat Bike’s consumer strategy is first deliver an e-bike with good after product sales solution, Nguyen stated, as well as its objective is transform gas bicycle users to electric.
Dat Bike claims that its latest model, the Weaver 200, includes a selection of 200 kilometers when compared with 50 kilometers for some other electric bikes, plus charging time of just one hour for 100 kilometer and three hours for complete 200 km cost, when compared with six to eight hours for any other e-bikes.
The startup recently established Dat Charge, a charging you section for the bikes, which it states decreases charging you time by way of a 3rd. Dat Charge happens to be obtainable in the middle Ho Chi Minh City, with intends to expand it nationwide within the next couple of years.
In a declaration about Jungle Ventures’ investment, vice president My Tran stated, “This is our 3rd investment in Dat Bike so we continue being astonished by the amazing execution by the group. The development is testament towards the electric future that Son is building with Dat Bike.”