MAKA Motors, an Indonesian electric motorbike startup founded by former Gojek executives Raditya Wibowo and Arief Fadillah, has closed a $37.6 million seed round co-led by local venture capital firms AC Ventures and East Ventures, and South Korea’s SV Investment.
Other investors that participated in the round include Northstar Group, Provident, AlfaCorp, Skystar Capital, Peak XV Partners (formerly Sequoia India and Southeast Asia), Openspace Ventures, Shinhan Venture Investment, BEENEXT, Kinesys Group, and M Venture Partners (MVP).
DealStreetAsia had reported earlier this month that the startup, formerly called KLN, was closing a large seed round with AC Ventures as the lead investor. We had also reported in Sept 2022 that the startup was in talks with Northstar, Sequoia India, Skystar, Openspace, and other big investors.