ION Mobility, a smart electric motorbike company, has raised a total of US$6.8 million in a seed round co-led by Quest Ventures and TNB Aura.
They are joined by new and returning investors such as GDP Venture, Monk’s Hill Ventures, Seeds Capital and 500 Southeast Asia. Other investors include Alice Hung, CEO James Chan, and CTO Calvin Cheng.
To unveil by the end of 2021 in Singapore
This brings the company’s total funding to US$6.8million. ION Mobility’s announced funding of US$3.3 million in Q4-2020 and raised US$3.5 million in its latest Seed equity round.
The financing follows the company’s senior leadership changes earlier this year and a year of intensive design, research, development, and engineering of its smart electric motorbike amidst the pandemic.
ION Mobility is preparing to unveil its smart electric motorbike later this year. On top of that, ION Mobility is in the process of commissioning its 1,175 square metre EV motorbike and battery pack assembly operations at LaunchPad@ one-north in Singapore by the end of this year.
Furthermore, the startup also intends to expand its EV motorbike assembly operations into Jakarta come 2022.
With the fresh capital, the startup aims to set up its manufacturing operations in Singapore and Indonesia in preparation to launch in those markets.
Electric motorbikes for the SEA user
Founded in late 2019, ION Mobility is a tech company on a mission to create affordable, desirable, and sustainable mobility for everyone.
Their products combine advanced hardware and software technology with human-centred design to deliver smart electric motorbikes and energy storage solutions that are for everyone to use.
“There is a growing sense of excitement and momentum in Southeast Asia around electric motorbikes and how they can transform not just the way people move around cities, but also their impact on the environment and the economy, “said founder and CEO James Chan.
With the company’s focus on its end-to-end design and advanced manufacturing along with a seamless user experience, its electric motorbikes are poised to rule the road.
VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:
Featured image credit: ION Mobility
Also read: Electricity retailer iSwitch to cease operations on Nov 11, users will auto-port to SP Group