The funding round was led by F.C.C, a company listed on the Tokyo Stock Exchange, and Rebright Partners, a fund based in Japan and Singapore, along with Jungle Ventures. Additional participants included Cathay Venture, the venture capital arm of Cathay Financial Holdings, and AiViet Venture.
This brings Dat Bike's total funding to $47 million. CEO Nguyen Ba Canh Son stated that the new capital will be used for research and development, and to expand the product portfolio.
"With a product-centric approach and deep integration with the domestic supply chain, we are constantly innovating to create vehicles with performance comparable to internal combustion engine vehicles," he said.
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A stage in the Dat Bike assembly process. Photo courtesy of the company |
A stage in the Dat Bike assembly process. Photo courtesy of the company
The company will also strengthen its distribution system, sales service quality, and after-sales service. They will also increase cooperation with ride-hailing platforms and financial service providers to expand market access.
Founded in 2019, Dat Bike has quickly become a leading domestic high-performance electric motorcycle brand, with its flagship Quantum S-series. The company announced a five-fold increase in production capacity in 2024, and its 3S store network (sales, service, and spare parts) is present in major cities.
A representative from F.C.C assessed Dat Bike as a leading Vietnamese startup in the development, production, and distribution of electric motorcycles, with growth potential in ASEAN.
Vietnam's electric motorcycle industry is gaining momentum thanks to the government's green transportation plans. According to Government Directive 20, starting 7/2026, Hanoi will ban gasoline-powered two-wheelers within Ring Road 1. The ban is expected to expand to Ring Road 2 in 2028 and Ring Road 3 by 2030.
Ho Chi Minh City has not set a timeframe for restricting gasoline-powered motorcycles but is researching solutions to prioritize green energy vehicles in certain zones, including the city center, Can Gio (old), and Con Dao. Restrictions on gasoline and diesel vehicles are also being considered.
Vietnam's electric motorcycle market currently includes domestic and Chinese brands. VinFast, Dat Bike, Selex Motors, and Pega are domestic representatives. In 2019, Yadea (China), the world's largest electric two-wheeler brand, officially entered Vietnam. Recently, traditional motorcycle manufacturers like Yamaha and Honda have begun launching electric models.
"Vietnam is at a crucial point in the electrification of the two-wheeler ecosystem, and Dat Bike is one of the few companies that fully masters domestic electric vehicle technology," said Rishab Malik, a representative of Jungle Ventures, which has invested in the startup for five years.
Vien Thong
