Vietnamese e-motorbike startup Dat Bike raises $22mn in Series B round

CEO Nguyen Ba Canh Son said the new capital will be used to expand production capacity, scale its online and offline distribution channels nationwide, and invest in research and development to enhance core technology and develop next-generation electric motorbike models.

Dat Bike also plans to upgrade its customer service and distribution systems to improve user experiences, and to deepen partnerships with ride-hailing platforms and financial service providers to accelerate the shift toward sustainable mobility across Vietnam.

The round was co-led by Tokyo-listed F.C.C. Co. Ltd., a global automotive parts manufacturer, and Japan-and-Singapore-based venture capital firm Rebright Partners.

Existing investor Jungle Ventures, a major Southeast Asian VC firm, also participated in the round.

New investors include Cathay Venture, the venture capital arm of Taiwan’s Cathay Financial Group, and AiViet Venture, an emerging Vietnam-focused fund backed by executives from local tech companies including FPT, MoMo, Galaxy, and Kyber Network.

F.C.C. described Dat Bike as a high-potential player in Vietnam’s electric vehicle space with strong growth prospects in the ASEAN region.

The company said the strategic partnership aims to contribute to sustainable transportation by addressing local market needs while leveraging F.C.C.’s global supply chain and manufacturing expertise.