Dat Bike is on a mission to put more electric bikes on Vietnam’s roads. The startup said today it has raised $8 million led by returning investor Singapore-based firm Jungle Ventures, just seven months after its first round of funding was announced. GSR Ventures and Delivery Hero Ventures also participated in this round, along with Wavemaker Partners and Innoven Capital.
The new round brings Dat Bike’s total raised to $16.5 million. It will use its new funding on tech and product development, hiring for its sales, support, R&D and product teams, and building more capacity in its factories.
Dat Bike was founded in 2018 by Son Nguyen, who learned how to build bikes from scrap while working as a software engineer in Silicon Valley. The company says that over the past 12 months, its revenue has grown 10x.
Its bi …
