MAKA Motors Bags US$37.6 Mln in Funding for Expansion

By Editorial Team 21/07/2023
Topic

Electric vehicle startup MAKA Motors managed to raise US$37.6 million in a seed funding round led by AC Ventures, East Ventures, and South Korea’s SV Investment.

MAKA Motors founder Raditya Wibowo said the proceeds would allow the company to overcome limitations commonly faced by many two-wheeled EV companies.

According to him, lack of funds often forced these startups to outsource the research and development department. As a result, they lose important user insights, control over the supply chain, and potential cost efficiencies.

“This significant funding not only validates our vision but also accelerates our mission to surpass the expectations of Indonesian riders with our electric motorbikes. We are committed to pushing the boundaries of driving range, power, usability, durability, and affordability in the realm of two-wheeled electric vehicles," he said on Thursday.

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