Dat Bikes is on a journey to cut back the quantity of gasoline utilized in Vietnam. The startup builds electrical motorbikes with key elements that it designs and produces domestically to cut back prices and enhance efficiency. In the present day, Dot Bike introduced that it has raised a $5.3 million Collection A led by Jungle Ventures, with participation from Wavemaker Companions.
Each traders are returning. Jungle Ventures pioneered the seeds of Dat Bike a 12 months in the past, when TechCrunch first profiled the corporate. The most recent funding raises Dat Bike’s complete to $10 million since Son Nguyen based it in 2019.
The Dat bike is acknowledged by the Ministry of Transport of Vietnam as the primary domestically manufactured electrical bike. Nguyen mentioned the DAT bikes use vertical integration as a substitute of counting on third-party imported electrical drivetrains and elements as a result of this retains prices down whereas enhancing high quality. Most of Dat Bike’s automobile elements are designed by the corporate and 80% of its suppliers are situated in Vietnam. It additionally makes use of a direct-to-consumer supply mannequin, which permits for decrease costs.
A portion of the funding might be invested in its expertise. Nguyen defined that the three most necessary elements of an electrical bike are its battery, motor and controller. Proper now, Dat Bike has the expertise for battery packaging and controllers. With its new capital, will probably be capable of put money into its engine expertise. Nguyen mentioned the corporate can even improve its cell app, including new options and shortening the suggestions loop on its error reporting characteristic.
The corporate needed to deal with client considerations relating to the efficiency of the e-bikes compared to their petrol counterparts. The corporate says that its first product line, the Weaver, delivered thrice the efficiency (5 kW versus 1.5 kW) and twice the vary of most competing electrical bikes (100 km versus 50 km). The second mannequin of the cease bike, the Weaver 200, was launched final 12 months with greater efficiency or 200km/h and an influence of 6kW. It diminished the charging time for its full 200km cost from 1 hour for 100km to 2.5 hours.
“Our purpose is to develop a brand new product yearly and do analysis for quicker charging,” Nguyen mentioned.
Dat Bike presently has two shops in Ho Chi Minh Metropolis and Hanoi, and its bikes can be ordered on-line. A part of the funding might be used to broaden its offline-to-online mannequin to bigger cities akin to Thai Nguyen, Baek Ninh, Hai Phong, Hai Duong, Ha Lengthy, Vinh, Qu Nhon, Nha Trang, Danang, Can Tho and extra Can be completed. Wung Tau.