The Highlights:
DatBike, a Vietnamese electric motorbike company, raised $2.6M pre-Series A funding led by Jungle Ventures
Made in Vietnam with mostly domestic parts, Dat Bike aims to compete with the traditional gas motorbikes on pricing and performance
The two-wheeler industry in Southeast Asia is a $25 billion market with a potential pool of over 500 million consumers
At the affordable price of 39.9 million Vietnam dong, or about $1,700 USD, Dat Bike’s flagship product Weaver, offers 3 times the performance and 2 times the range of most electric motorbikes in the market
The founder and CEO, Son Nguyen, who began as a software engineer in Silicon Valley, decided to move back to Vietnam in 2018 and launched Dat Bike
A VietChallenge alumni season 2019, Dat Bike, at the time of the competition only had a prototype, now after less than 3 years has successfully raised $2.6M funding from venture capitals led by Jungle Ventures. The founder and CEO Son Nguyen began learning how to build bikes from scrap parts while working as a software engineer in Silicon Valley. In 2018, he decided to move back to Vietnam and launched Dat Bike. In the Southeast Asian region of over 500 million people, more than 80% of households in Indonesia, Malaysia, Thailand, and Vietnam own at least one two-wheeled vehicle, but the majority are fueled by gas motorbikes dominated by Japanese producers with the likes of Honda, Suzuki; Italian giant Piaggio or other Chinese brands.
Read the full article on VietLaunch.