IMotorbike, a leading Southeast Asian ecommerce platform specializing in pre-owned motorcycles, has successfully raised $10 million in its Series A funding round. The funding, completed in two phases, was spearheaded by Headline Asia, with additional investments from Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst.
The Malaysia-based startup plans to leverage this capital to broaden its footprint in the region, focusing on enhancing its presence in Malaysia and Vietnam. The company also has its sights set on entering the Taiwanese market.
To support its growth, IMotorbike intends to establish new inspection centers and showrooms in key Malaysian cities, including Penang and Johor. It will also bolster its workforce by hiring additional mechanics and operational staff to meet the rising demand for pre-owned motorcycles.
Founded in 2016 by Gil Carmo and Sharmeen Looi, IMotorbike has become a trusted platform for buying and selling used motorcycles, contributing to the circular economy and providing affordable mobility solutions. The fresh funding marks a significant milestone in the company’s journey to scale its operations and strengthen its position as a market leader in Southeast Asia.
