In a seed round led by Quest Ventures and TNB Aura, ION Mobility, a smart electric motorcycle firm, raised a total of US$6.8 million. GDP Venture, Monk’s Hill Ventures, Seeds Capital, and 500 Southeast Asia are among the new and returning investors. Alice Hung, CEO James Chan, and CTO Calvin Cheng are among the other investors.
The funding comes on the heels of the company’s senior leadership changes earlier this year, as well as a year of intense design, research, development, and engineering of its smart electric motorcycle in the midst of the pandemic.
Later this year, ION Mobility will reveal its smart electric motorcycle. Furthermore, by the end of this year, ION Mobility will have completed the commissioning of its 1,175 square metre EV motorbike and battery pack assembly activities at LaunchPad@ one-north in Singapore.
The business plans to use the new funds to set up manufacturing operations in Singapore and Indonesia in preparation for a launch in those countries.
ION Mobility, a digital startup founded in late 2019, is on a mission to make mobility more affordable, appealing, and sustainable for everyone.
Their products combine advanced hardware and software technology with human-centered design to produce smart electric motorcycles and energy storage solutions that are accessible to the general public.
“In Southeast Asia, there is a growing feeling of enthusiasm and momentum around electric motorbikes and how they may revolutionise not only the way people move around cities, but also their influence on the environment and the economy,” said James Chan, the company’s founder and CEO.
Their electric motorcycles are prepared to rule the road due to the company’s concentration on end-to-end design and innovative production, as well as a seamless user experience.