iMotorbike secures $10M Series A funding to fuel growth

Deal News | Jan 23, 2025 | Aim Group

Kuala Lumpur-based iMotorbike, a digital auto retailer, has successfully raised $10 million in Series A funding. This funding round was spearheaded by Headline Asia and saw participation from Ondine Capital, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst. The company had previously initiated this funding round in June 2023, initially raising $2.6 million. iMotorbike specializes in buying and selling used motorcycles and made headlines last year with the inauguration of a 46,806-square-foot facility in Selangor. The company has predominantly leveraged its digital presence on platforms like TikTok to boost its market visibility, achieving views of up to 1.6 million. According to Gil Carmo, co-founder and CEO, the freshly secured funds will be directed toward enhancing technology, expanding service repertoire, and reinforcing market presence, particularly in Malaysia with plans to open new inspection centers and showrooms in areas such as Penang and Johor. The company also eyes expansion into the Taiwanese market.

Sectors

  • Digital Auto Retail
  • Venture Capital Funding

Geography

  • Malaysia – iMotorbike is based in Kuala Lumpur and is planning to expand its presence within Malaysia, opening new centers in key locations like Penang and Johor.
  • Taiwan – The company is planning an expansion into the Taiwanese market as part of its growth strategy.

Industry

  • Digital Auto Retail – iMotorbike operates in the digital auto retail sector, specializing in the buying and selling of used motorcycles through digital platforms.
  • Venture Capital Funding – The article discusses a Series A funding round, which is typically associated with venture capital investments in growing startups.

Financials

  • 10000000 – iMotorbike raised $10 million in Series A funding.
  • 2600000 – The initial amount raised in the Series A funding round starting in June 2023.

Participants

NameRoleTypeDescription
iMotorbikeTarget CompanyCompanyKuala Lumpur-based digital auto retailer focusing on used motorcycles.
Headline AsiaLead InvestorCompanyVenture capital firm leading the Series A funding round for iMotorbike.
Ondine CapitalInvestorCompanyParticipated in iMotorbike's Series A funding round.
500 GlobalInvestorCompanyParticipated in iMotorbike's Series A funding round.
Gobi PartnersInvestorCompanyParticipated in iMotorbike's Series A funding round.
Astor ManagementInvestorCompanyParticipated in iMotorbike's Series A funding round.
Endeavor CatalystInvestorCompanyParticipated in iMotorbike's Series A funding round.
Gil CarmoCo-founder and CEOPersonCo-founder and CEO of iMotorbike.