The investment will be used to scale up Dat Bike’s manufacturing capacity, strengthen its supply chain, and upgrade its distribution network. The capital will also be allocated to research and development as the company works to enhance product performance and prepare for regional expansion.

In addition to financial backing, TVS said it will support Dat Bike with corporate governance advisory, strategic planning, and value chain optimization, while helping connect the startup with capital markets to improve long-term growth prospects.

Nguyen Thanh Thao, chief executive of Thien Viet Securities, said the investment reflects growing global momentum toward green mobility as governments push policies to reduce emissions and achieve net-zero targets by 2050. Vietnam is one of the world’s largest two-wheeler markets, with more than 77 million motorbikes currently in circulation and about three million new units sold annually, she said.

“Dat Bike is one of the pioneering domestic companies that has developed its own technology across research, design, and manufacturing,” Thao said, adding that the firm has the potential to scale up and accelerate the transition to cleaner transport in Vietnam.

Nguyen Ba Canh Son, founder and chief executive of Dat Bike, said the investment from TVS would provide additional financial resources to accelerate production expansion, diversify product offerings, and improve service quality. The funding also reinforces confidence in Vietnamese-developed technology and the company’s long-term growth strategy, he stressed.

Founded in 2006, Thien Viet Securities operates as a boutique investment bank focusing on capital investment, asset management and mergers and acquisitions advisory. The firm has advised on several notable deals, including Diana-Unicharm, CII-Metro Pacific, Nam Long-Goldman Sachs/IFC and more recently Qualcomm’s acquisition of VinAI. Through its private investment activities, TVS has also backed startups such as MoMo, Finhay, and Citics.

Dat Bike, one of the earliest domestic electric motorbike manufacturers in Vietnam, aims to replace gasoline-powered motorcycles with high-performance electric models designed for urban users. The company said it has developed a production model that minimizes reliance on imported components. Over the past two years, Dat Bike has increased manufacturing capacity fivefold and expanded its retail network to major cities nationwide, with plans to reach 100 stores this year.

Last year, Dat Bike was among the top 10 funded startups in Vietnam, along with Coolmate, Manabie, CME Solar, OKXE Vietnam, Orochi Network, Ephyra/GameBeast, AI Hay, Galaxy Education, and Kyna English. The e-motorbike maker raised $22 million in its Series B+ round, aiming to produce 100,000 units yearly.