In a groundbreaking milestone for Indonesia’s electric vehicle (EV) sector, MAKA Motors, an Indonesia-based EV startup, has successfully concluded its seed funding round, raising an impressive $37.6 million. Co-led by renowned investors East Ventures, AC Ventures, and South Korea’s SV Investment, this funding marks one of Southeast Asia’s largest seed funding rounds for a hardware startup. MAKA Motors, founded in 2021 by experienced ride-hailing veterans Raditya Wibowo and Arief Fadillah, aims to transform the electric motorcycle industry in Indonesia by addressing unique market needs and offering superior products at competitive prices.
A Vision for Electric Mobility in Indonesia
MAKA Motors is driven by a clear vision: to accelerate the adoption of electric motorcycles in Indonesia and revolutionize the EV two-wheeler industry. With over 127 million motorbikes, Indonesia stands as the third-largest global market for two-wheeled vehicles. However, the vast majority of these vehicles still rely on gasoline as their fuel source, with only approximately 43,000 registered electric motorcycles in the country. This creates a significant opportunity for electrification, not only contributing to a greener environment but also helping Indonesian riders reduce their daily expenses.Superior Product Offerings
At the core of MAKA Motors’ strategy is its commitment to providing electric motorcycles that perfectly cater to the demands of Indonesian riders. The company places great emphasis on driving range, power, usability, and durability while ensuring competitive pricing compared to conventional bikes. By focusing on these key aspects, MAKA Motors aims to address the unique needs of the Indonesian market and outperform existing players in the EV industry.A Growing EV Market and Government Support
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