Maka Motors, an Indonesian electric motorcycle startup, raised a $37M Seed round as it seeks to launch sales in late 2024. The company plans to use the funds to build a factory in West Java this year. According to the startup, Indonesia currently has 43,000 registered electric motorcycles out of 127 million motorbikes. - Indonesia's goal is to have 600,000 circulating electric vehicles by 2030.
- The round was co-led by East Ventures, SV Investment, and AC Ventures, with participation from Northstar Group, Provident, and Skystar Capital, among others.
- The startup was founded in 2021 by former Gojek employeesRaditya Wibowo and Arief Fadillah.
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