| Photo: Dat Bike |
Dat Bike, Vietnam’s fastest-growing high-performance electric motorbike producer, received a $4 million convertible loan from InfraCo in 2024 as part of its growth strategy. In September 2025, Dat Bike raised $22 million in its Series B fundraise, which was increased to $26 million with a second close in March 2026.
The fundraising round was co-led by Japan's F.C.C. Co., Ltd. and Rebright Partners, with participation from existing investor Jungle Ventures, AiViet Venture, and new investors Thien Viet Securities (TVS) and Cathay Venture.
Son Nguyen, CEO of Dat Bike said, “PIDG backed Dat Bike when access to growth capital was limited and remained a trusted partner throughout our growth journey. Their investments supported the expansion of our manufacturing facility and helped strengthen our production capabilities. During this period, we scaled our monthly production tenfold, expanded our sales channels, and strengthened our position in the market. This growth laid a strong foundation for our successful Series B fundraise and our continued mission to make cleaner, more affordable mobility accessible across Vietnam.”
Taking an active role in the company’s governance, PIDG provided strategic guidance and worked with Dat Bike to introduce greater flexibility into its financing arrangements as the company scaled, including helping accommodate new investors during the Series B round. This collaboration formed part of Dat Bike's broader efforts to manage its capital requirements and secure additional financing during a period of rapid expansion.
Gilles Vaes, chief investment and project development officer at PIDG said, "Our role is to support businesses at critical stages of their development, particularly where commercial financing is not yet readily available. Contributing through our sector expertise, board-level guidance, flexible financing, and HSES (health, safety, environmental and social) oversight to Dat Bike’s strong execution capabilities, we have together established the foundations needed to scale sustainably."
"Combined with favourable market conditions – including growing consumer adoption of electric vehicles and increasing policy support in Vietnam – the company is well positioned for growth. We are proud to have supported Dat Bike on its journey from an emerging manufacturer to a business capable of attracting significant follow-on investment," he said.
The funding facilitated the set-up of an improved manufacturing facility, including warehouse system implementation, battery production upgrades, equipment procurement, and product reengineering. PIDG also provided HSES guidance to support Dat Bike’s operational improvements. The funding was also utilised to expand Dat Bike’s sales channels from 4 to 70 stores, and contributed to the creation of over 200 jobs across construction, operations, and maintenance.
Over Dat Bike’s loan tenure, the company contributed to an estimated 25,000 tCO₂e in avoided greenhouse gas emissions through the adoption of its electric motorbikes. End user surveys of customers by 60 Decibels also found that riders reporting an increase in income primarily from lower fuel expenses, maintenance costs, and charging costs. They also shared improvement in quality of life from increased riding comfort and ease of use.
The investment supports SDG 11: Sustainable Cities and Communities and SDG 13: Climate Action by providing safe, affordable, and sustainable transport systems to Vietnamese consumers.
Vietnam’s transition to electric mobility has accelerated significantly. The Vietnamese government continues to target 100 per cent of road vehicles to be powered by electricity or green energy by 20502, while major cities like Hanoi and Ho Chi Minh City are establishing low-emission zones and restrictions on internal combustion engine motorcycles.
Dat Bike's motorbikes are designed to address this shift by offering a competitive product that can drive mass-market adoption. Its flagship Quantum S series offer a range of up to 285 km, nearly double that of many competitors, while delivering performance comparable to conventional internal combustion engine motorcycles.
Over PIDG’s period of involvement, Dat Bike’s store network grew almost twenty times in response to customer demand, reflecting growing consumer confidence in their product, and in electric mobility as a viable alternative.
Looking ahead, Dat Bike is expanding strategic partnerships to accelerate technological innovation and strengthen its product offering. In September 2026, the company signed an MoU with Toshiba Electronics Asia (Singapore) to develop more efficient, reliable, and technologically advanced electric motorcycles.
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