MAKA Motors: Building a viable energy transition business through electric vehicle
With rapid urbanization and economic growth in Southeast Asia (SEA), the demand for energy transition is surging. This steers the region toward renewable energy sources, as countries look to diversify their energy mix and reduce their reliance on fossil fuels and their price volatility, ultimately cutting their carbon emissions.
The rise of EV two-wheelers in Southeast Asia
While electric vehicles (EVs) are poised to transform mobility across the world, a lesser-known revolution is underway in Southeast Asia (SEA) – the rise of electric two-wheelers. In a region full of motorcycles and scooters, these silent, emission-free alternatives offer the most immediate promise to SEA countries in combating climate change and leapfrogging into a sustainable future.
MAKA Motors, Indonesia-based electric vehicle (EV) startup, secures US$37.6 million seed round co-led by East Ventures
Indonesia-based electric vehicle (EV) startup MAKA Motors announced today the successful completion of its seed funding round, raising US$37.6 million. The funding round was co-led by East Ventures, AC Ventures, and South Korea’s SV Investment. This investment marks one of Southeast Asia's largest seed funding rounds to date for a hardware startup.