IMotorbike, a Malaysia-based motorcycle platform for buying and selling pre-owned motorcycles, has announced the successful completion of a $10 million Series A funding round.

The round was led by Headline, a global venture capital firm, with participation from other prominent venture capitals such as Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst, iMotorbike said in a statement on Tuesday.

The Series A round was completed in two tranches with the first being in June 2023 and the most recent funding led by Headline.

According to the statement, this funding is instrumental in expanding iMotorbike’s footprint in Malaysia where the company plans to open new inspection centers and showrooms in key locations — including Penang and Johor.

With the new funding, the company also aims to grow its workforce by hiring skilled mechanics and operations staff.

The expansion plans will also extend outside of Malaysia, with a new branch in Taiwan currently being planned.

“This funding validates the work we have done and the potential of pre-owned motorcycles in Southeast Asia. With this funding, we are excited to take iMotorbike to the next level,

“Beyond expanding our footprint in Malaysia and opening in Taiwan, we will continue improving our platform and scaling our operations to meet the growing demand,” said Gil Carmo, Co-founder and Chief Executive Officer of iMotorbike.

He hopes that the firm can continue to set new standards within the industry and make pre-owned motorcycles more accessible and hassle-free for everyone.

Looking ahead to 2025, iMotorbike said it remains committed to its mission of providing a trusted, seamless platform for motorcycle transactions.

With new markets opening and an expanded team in place, the company said it is poised to continue its impressive growth and solidify its leadership across Southeast Asia and beyond.

“IMotorbike has shown remarkable vision and execution in addressing the gaps in the pre-owned motorcycle market,

“Their focus on quality, transparency, and customer satisfaction has enabled them to become the leader in this space, which is a growing market,” said Akihiko Okamoto, Partner at Headline Asia.

According to the statement, iMotorbike growth has been accelerating in Malaysia, partially fueled by the launch of the Glenmarie showroom in 2024, which is a three-storey, 46,806-square-foot building in the heart of Selangor.

The firm has reached a significant milestone of 10,000 customers.

“We first invested in iMotorbike in 2017, and remain confident that the used motorcycle market globally will remain resilient as riders seek affordable and reliable solutions amid economic uncertainties,

“As early movers, we believe the team has built over the last 8 years a blueprint for trust and convenience in the motorcycle marketplace, putting them in a strong position to lead this mobility trend far beyond Southeast Asia,” shared Khailee Ng, Managing Partner, 500 Global.

Since its founding in 2016, iMotorbike has built a strong presence in Malaysia and Vietnam by focusing on customer trust and convenience.

“We are confident in their vision, leadership, and ability to deliver value to clients,

“We foresee iMotorbike further strengthening its presence locally and internationally and Ondine Capital will continue supporting it by bridging resources across Asia,” said Randolph Hsu, Co-Founder of Ondine Capital.

He also said the firm has witnessed iMotorbike remarkable growth and unwavering commitment to transforming the motorcycle market in Asia.

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