Dat Bike, a leading electric motorbike startup in Vietnam, has closed a US$22 million Series B funding round, bringing its total capital to US$47 million.
The new round was led by Japanese manufacturing giant FCC and Japan/Singapore-based Rebright Partners. Existing and new investors, including Jungle Ventures, Cathay Venture (the investment arm of Taiwan’s largest financial holding company with over US$400 billion in total assets), and AiViet Venture (a Vietnamese firm backed by industry leaders from major tech and finance companies), also joined.
Also Read: Thinking out loud: Are electric vehicles as sustainable as we believe?
The capital will be strategically deployed to scale manufacturing capacity through facility expansion, advanced tooling, and automation to “meet soaring demand”. A significant portion will bolster ongoing R&D efforts to advance core technologies and diversify its product portfolio with next-generation electric motorbikes.
Furthermore, Dat Bike plans to enhance its online and offline retail networks and customer service infrastructure for a more seamless and personalised customer experience. Crucially, the company will deepen partnerships with ride-hailing platforms and financing providers.
In addition, Dat Bike has formed a strategic partnership with FCC, a global leader in motorcycle clutches with 22 production facilities across 10 countries.
Vietnam’s electric two-wheel sector braces for a monumental shift, propelled by substantial government support for green mobility and a global decarbonisation agenda. For example, Hanoi plans to ban all fossil fuel-powered motorbikes from its inner-city, slated for July 2026. This will create an impetus for EV adoption and a lucrative opportunity for players like Dat Bike, whose vision is to drive mass adoption of green transportation and transform Vietnam’s vehicle market from petrol to electric.
Founded in 2019 by Son Nguyen, a software engineer from Silicon Valley, Dat Bike boasts a robust domestic supply chain encompassing everything from chassis and plastic fairings to motor controllers, battery packs, and the full software stack.
This localised approach grants Dat Bike tighter control over quality and costs, enabling the delivery of superior performance at an affordable price. It is crucial for direct competition with traditional internal combustion engine (ICE) motorbikes.
The company’s manufacturing capacity has already expanded five times in 2024, and its 3S network covers major cities nationwide. Further expansion is planned.
Also Read: Is India on the verge of shifting gears to EVs?
Son Nguyen, CEO of Dat Bike, said, “Our strong product focus and deep integration with the local supply chain enable us to continuously innovate and build bikes that rival internal combustion engine (ICE) motorcycles in both performance and range. This principle is the foundation for developing Vietnam’s EV ecosystem and driving the broader transformation of mobility across Southeast Asia.”
In 2023, Dat Bike secured US$8 million funding round led by Singapore-based Jungle Ventures, with GSR Ventures, Delivery Hero Ventures, Wavemaker Partners, and Innoven Capital participating. A year earlier, the EV company bagged US$5.3 million in Series A funding led by Jungle Ventures with participation from Wavemaker Partners.
The post Dat Bike teams up with Japan’s FCC in US$22M Series B round appeared first on e27.