Vietnamese electric two-wheeler maker Dat Bike has raised another $4 million from local investment bank Thien Viet Securities (TVS), per a statement.
The equity investment, following a $22-million Series B round last year, will assist Dat Bike with strategic operations including production capacity expansion, supply-chain enhancement, distribution system upgrade, and strengthening R&D capabilities.
TVS will also support Dat Bike with management consulting, development planning, value chain optimisation, and access to capital markets, according to the announcement.
“Vietnam has over 77 million motorbikes in circulation and approximately 3 million new motorbikes sold annually, making it one of the largest two-wheeler markets in the world,” said Nguyen Thanh Thao, CEO of TVS, placing bets on local technological capabilities.
AiViet Ventures, an affiliated venture capital firm of TVS, earlier participated in Dat Bike’s Series B financing round. The round was led by Japanese firm F.C.C Co. Ltd. and Japan/Singapore-based venture capital firm Rebright Partner, with participation also from Jungle Ventures, Cathay Venture, TVS Motor, Wavemaker Pacific, and other individual investors.
DealStreetAsia reported at that time that Singapore’s Accounting and Corporate Regulatory Authority (ACRA) showed a total of $33.9 million when Dat Bike received the funding, which included debt and convertible notes.
TVS, besides its brokerage and advisory business, has invested in local companies such as fintech unicorn MoMo, AI startup NamiTech, Galaxy Entertainment & Education, robo-advisor Finhay, and property data platform Citics.
TVS has also been actively providing venture debt over the past 12-18 months, including in UpBase, Ecomobi and Nha Khoa ParkWay, according to the firm’s Investment Outlook Report 2026.
Last year, TVS announced the successful divestment of its entire stake in Nhi Dong 315, the largest private paediatric healthcare chain in Vietnam.
