Dat Bike powers ahead with new $4m investment

Dat Bike powers ahead with new $4m investment

The investment was made as part of Dat Bike’s Series B funding round, bringing the company’s total capital raised to $51 million.

Dat Bike was founded in 2019 with the goal of replacing gasoline-powered motorcycles in Việt Nam and neighbouring markets with high-performance electric motorbikes. — Photo Dat Bike

Thien Viet Securities JSC (TVS) has announced a US$4 million investment in Dat Bike, a Vietnamese electric motorcycle manufacturer, marking a further boost for the fast-growing clean mobility company.

The investment was made as part of Dat Bike’s Series B funding round, bringing the company’s total capital raised to $51 million.

The new funding is expected to be allocated to several key areas, including expanding production capacity, improving the supply chain, upgrading the distribution system and strengthening research and development (R&D) capabilities. 

Strengthening these operational foundations will help Dat Bike better prepare for its plan to expand into regional markets in the next phase.

In addition, TVS will support Dat Bike in corporate governance advisory, development planning, value chain optimisation and connections to capital markets in order to enhance operational efficiency and long-term growth potential.

Prior to Dat Bike, TVS had invested in several other startups such as MoMo, NamiTech, Galaxy Entertainment & Education, Finhay and Citics.

Founded in 2006, TVS primarily operates in capital investment, asset management and M&A advisory.

Meanwhile, Dat Bike was founded in 2019 with the goal of replacing gasoline-powered motorcycles in Việt Nam and neighbouring markets with high-performance electric motorbikes. 

The company said its 3S dealership network is expected to expand to 100 locations this year. 

Previously, Dat Bike announced it had raised $22 million in a Series B funding round co-led by F.C.C., a company listed on the Tokyo Stock Exchange, and Rebright Partners, with participation from Jungle Ventures, a long-term investor in Dat Bike. 

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