Electric Motor Startup MAKA Motors Gets The Largest Initial Funding In Southeast Asia

Arief Fadillah (left) as Deputy Founders of MAKA Motors and Raditya Wibowo (right) as Founders and Chief Executives of MAKA Motors. (Doc. MAKA Motors)

JAKARTA - MAKA Motors, as an electric motorcycle startup company, has also enlivened the electric vehicle industry in Indonesia by announcing initial funding from a number of leading investors, including AC Ventures, East Ventures, and SV Investment from South Korea.

The initial funding managed to raise funds of US$37.6 million or around Rp563 billion. This amount is one of the largest investments in Southeast Asia for hardware startup companies.

Other strategic investors, such as Northstar Group, Provident, AlfaCorp, Skystar Capital, Peak XV Partners, Openspace Ventures, Shinhan Venture Investment, BEENEXT, Kinesys Group, and M Venture Partners (MVP), also participated in this funding round.

Raditya Wibowo, founder and CEO of MAKA Motors, stated that their company conducts in-house and local research and development (R&D), this allows them to address the issue of cost efficiency in presenting innovative products for the community.

"This funding not only validates our vision, but also accelerates our mission to exceed the expectations of Indonesian motorists on our electric motorbikes," Wibowo said in his official statement, Thursday, July 20.

Meanwhile, Arief Fadillah, Deputy Founder and Head of Technology of MAKA Motors, stated that the company recruited the best people with working experience in global companies, both at home and abroad, to produce superior vehicles.

"In addition to creating superior electric motors, we dream of increasing the capabilities of Indonesian human resources in the field of R&D and automotive manufacturing by inviting our local talents from all over the world to return to build the nation through MAKA Motors," added Fadillah.

With this investment, MAKA Motors will expand and continue its operations as well as research and development facilities to accelerate the production of electric motorcycles with cutting-edge technology.

The company plans to carry out the first mass production of the MAKA Motors model next year, and they are currently building a factory in West Java which is expected to operate by the end of this year.

MAKA Motors was founded by former Gojek, Raditya Wibowo and Arief Fadillah officials. Seeing the potential growth of electric vehicles in Indonesia, they are committed to building this company at competitive prices and promising performance, as well as presenting new innovations.