• Bikes for Sale
  • News
  • Buyer’s guide
    • Buy a Motorcycle
    • First Rides & Reviews
    • Specs, Prices & Others
  • Lifestyle
    • Concepts & Custom
    • Electric Motorcycles
    • Events
    • Motorsport
    • Tips & Stories
    • Travel
  • Locals
imotorbike logo
  • Bikes for Sale
  • News
  • Buyer’s guide
    • Buy a Motorcycle
    • First Rides & Reviews
    • Specs, Prices & Others
  • Lifestyle
    • Concepts & Custom
    • Electric Motorcycles
    • Events
    • Motorsport
    • Tips & Stories
    • Travel
  • Locals
  • Facebook

  • Instagram

  • X (Twitter)

  • YouTube

  • LinkedIn

  • RSS

News

iMotorbike Raises RM12mil in Series A Round, Paving the Way for Enhanced Preowned Motorcyles Trading in Southeast Asia

iMotorbike Raises RM12mil in Series A Round, Paving the Way for Enhanced Preowned Motorcyles Trading in Southeast Asia
Michelle Liew
June 27, 2023

iMotorbike’s operations in Malaysia and Vietnam on an expansion path with investments in technology and talent to drive growth.

From Left Gobi Partners Managing Partner (Malaysia), Jamaludin Bujang, iMotorbike Co-founder and Chief Marketing Officer, Sharmeen Looi, iMotorbike Co-founder and Chief Executive Officer, Gil Carmo and Gobi Partners Co-founder and Chairperson, Thomas Tsao

Subscribe to our Telegram channel for instant updates!

iMotorbike, Southeast Asia’s pioneer e-commerce platform for buying and selling preowned motorcycles, today announced that it has raised RM12 million (US$2.6 million) (US$1 = RM4.6125) in its Series A funding round led by Gobi Partners and Ondine Capital.

The funding round saw returning participation from Penjana Kapital, The Hive Southeast Asia, 500 Global, SOSV’s Orbit Startup; new investors Goodwater Capital, Seedstar International Ventures and Permodalan Negeri Selangor Berhad (PNSB); as well as other institutional venture capitalists.

iMotorbike, which enables users to buy and sell preowned motorcycles on a secure marketplace, was founded by entrepreneurs Gil Carmo and Sharmeen Looi to address the gap in the two-wheeler market. iMotorbike’s platform is fast, efficient and safe, offering money-back guarantee and warranties.

iMotorbike generated over 2,500 transactions with total revenue of more than RM16 million (US$3.5 million). With connections of 5,000 dealers across Malaysia and Vietnam, it also provides financing options, insurance and road tax for users’ convenience.

The Series A funds will be used to strengthen the iMotorbike operations in Malaysia and Vietnam. This includes opening more inspection centres in both countries; as well as for technology and talent investments.

iMotorbike co-founder & CEO Gil Carmo said the successful fundraise is a testament to the
business of the motor trading platform.

“This infusion of capital will be instrumental in fueling the next phase of growth for the company, as we spearhead the transition towards a circular economy in the two-wheeler market. We will expand our efforts to promote sustainability. At iMotorbike, we attempt to create a robust ecosystem for the reusing of motorcycles, parts and accessories to reshape the future of mobility”.

“We are customer-obsessed. We drive our strategy by improving customer experience in every aspect of our business. Hence this is why we are opening more inspection centres. The value of what we are building is showing from the good customer feedback we get on a daily basis,” said Carmo.

Gobi Partners co-founder and chairperson, Thomas Tsao, has a positive outlook on the potential
for substantial growth in iMotorbike given the size of the Southeast Asian market.

“iMotorbike serves as an excellent example of a circular economy startup, with the potential to become a major player in the two-wheeler industry. In Malaysia alone, there are 1:1 motorcycles for every car, and this ratio increases to 6.5X in Indonesia and a staggering 14.2X in Vietnam.”

This represents a combined market size of 216 million motorcycles which iMotorbike is poised to tap into,” said Tsao.

Ondine Capital founding partner Randolph Hsu said its latest investment into iMotorbike aligns perfectly with its focus to fund Southeast Asian startups with consumer technology.

“We are always on the lookout for promising startups with a unique value proposition. iMotorbike has stood out with its market traction, stemming from its mission to improve the preloved motorbike market. We are excited to be part of their growth journey,” said Hsu.

To date, iMotorbike has secured a total of RM19.3 million (US$4.2 million) since its pre-seed funding round.

With rising inflation and higher cost of living amid surging fuel prices, the company expects to see more people turning to motorcycles as a mode of transportation and as a means of generating income. Two-wheelers remain a viable, low-maintenance option for many commuters and e-commerce riders and iMotorbike is well-positioned to capitalise on this immense potential.

Entering the next exciting phase of growth, iMotorbike is poised to continue revolutionising the preowned motorcycle landscape. The startup remains committed to its vision of tackling four pain points of buying and selling preowned motorcycle – reliability, transparency, market fragmentation and time consumption.

iMotorbike offers a fast, secure, easy and hassle-free online experience with 170 inspection points, 6 days return, 6 months warranty, countrywide delivery and a bundle of finance, road tax and insurance. Additionally, it also provides consumers with the latest motorcycle news.

About iMotorbike

iMotorbike is Southeast Asia’s pioneering e-commerce platform for buying and selling motorcycles. The brainchild of entrepreneurs Gil Carmo and Sharmeen Looi, iMotorbike wants to enable consumers to trade preowned motorcycles on a secured e-commerce platform in a day. Headquartered in Kuala Lumpur, with a growing presence in Malaysia and Vietnam, its mission is to tackle four pain points of buying and selling preloved motorcycles, which are reliability, transparency, market fragmentation and time consumption.

Related Itemsfeaturedimotorbikeinvestmentmalaysianewnewsvietnam
To read the full story
login with google
login with facebook
or
Create an account for free
This won't cost you.
by clicking this button you agree to iMotorbike's visitor agreement
Already have an account? Sign in here
Click here to get notified on every new article
News
June 27, 2023
Michelle Liew

An avid fan of motorsports bringing you top-notch content from the two-wheeler world! Gear up for the latest updates and news with top speed delivery

Related Itemsfeaturedimotorbikeinvestmentmalaysianewnewsvietnam

More in News

Norton Motorcycles Sets Up Indian Subsidiary Under TVS

Michelle LiewAugust 23, 2025
Read More

Kriega R20: The Ideal Motorcycle Backpack

Michelle LiewAugust 23, 2025
Read More

Buell Super Cruiser Breaks All the Cruiser Rules

Michelle LiewAugust 23, 2025
Read More

Yamaha MXGP & MX2 Ready for Arnhem Home GP

Michelle LiewAugust 22, 2025
Read More

iMotorbike Motor Day Sale Returns with Big Discounts and Exciting Prizes!

Hazique ZairillAugust 22, 2025
Read More

Police Offer 50% Discount on Summonses at RXZ Members 7.0 Gathering

Hazique ZairillAugust 22, 2025
Read More

KTM 250 Duke 2025: Entry-Level Streetfighter

Michelle LiewAugust 21, 2025
Read More

100 Motorcycles Donated to Cambodian Border Forces

Michelle LiewAugust 21, 2025
Read More

Kembara Merdeka 2.0: 250 Superbikes in Negeri Sembilan

Michelle LiewAugust 21, 2025
Read More

MotoGP Hungary 2025: Balaton Park Debut

Michelle LiewAugust 21, 2025
Read More

2013 Yamaha YZF-R6 Review: The 600cc Icon That Defined a Generation

Hazique ZairillAugust 21, 2025
Read More

Joe Rascal Revamps Motorcycle Retail in Australia

Michelle LiewAugust 20, 2025
Read More
We want to buy your bike Join us on Telegram
Scroll for more
Tap

Join us on Facebook

  • Popular

  • Latest

  • Comments

  • 2025 Keeway XDV 180 Evo Adventure Scooter Launched in Malaysia
    Buyer's guideAugust 4, 2025
  • Yamaha PG-1 Review: A Chill Trail Bike That’s Seriously Fun
    Buyer's guideAugust 5, 2025
  • YADEA RS20 Electric Scooter Launched in Malaysia at RM4,998
    Buyer's guideAugust 18, 2025
  • Mforce Unveils Yadea Velax Electric Scooter
    Buyer's guideAugust 11, 2025
  • KTM Resumes Full Production in Mattighofen
    Buyer's guideAugust 4, 2025
  • Special Number Plate Deal and Lucky 8 Promo This August 8th!
    Buyer's guideAugust 6, 2025
  • QJMotor SRK250R Officially Launched in Malaysia at RM9,988
    Buyer's guideAugust 18, 2025
  • Norton Motorcycles Sets Up Indian Subsidiary Under TVS
    NewsAugust 23, 2025
  • Kriega R20: The Ideal Motorcycle Backpack
    NewsAugust 23, 2025
  • Buell Super Cruiser Breaks All the Cruiser Rules
    NewsAugust 23, 2025
  • Yamaha MXGP & MX2 Ready for Arnhem Home GP
    NewsAugust 22, 2025
  • iMotorbike Motor Day Sale Returns with Big Discounts and Exciting Prizes!
    Buyer's guideAugust 22, 2025
  • Police Offer 50% Discount on Summonses at RXZ Members 7.0 Gathering
    EventsAugust 22, 2025
  • KTM 250 Duke 2025: Entry-Level Streetfighter
    NewsAugust 21, 2025
  • MV Agusta Lucky Explorer Project 9.5: testing the Schiranna prototype - news.iNthacity: More Top Breaking News and Popular Stories To Stay Informed says:

    […] Michelle Liew […]

  • CFMOTO 450SR to enter Malaysia in March 2023 at RM29,300 - news.iNthacity: More Top Breaking News and Popular Stories To Stay Informed says:

    […] Michelle Liew […]

  • Suzuki V-Strom now available in Malaysia at RM81,900 - news.iNthacity: More Top Breaking News and Popular Stories To Stay Informed says:

    […] Michelle Liew […]

  • Colin says:

    I hope they make the Dax street legal. Love to…

  • Mohd Razi bin Rosli says:

    Adv 150cc

  • Nena Maxberry says:

    Just curious what they would retail for

  • Adam Kenny says:

    RM4159 for the front fork is it?

Categories

  • Buyer's guide
    • First Rides & Reviews
    • Specs, Prices & Others
  • cafe racer malaysia murah
  • Campaign
  • CSR Programme
  • Electric Motorcycles
  • Electric Motorcycles
  • Industry
  • Industry
  • Kedai Motor
  • Lifestyle
    • Concepts & Custom
    • Electric Motorcycles
    • Events
      • EICMa
    • Helmet
    • Motorsport
      • ARRC
      • CubPrix
      • Moto3
      • Motocross
      • MSBK
      • WSBK
    • Tips & Stories
    • Travel
  • Moto2
  • Motor Murah
  • News
    • Locals
    • MotoGP
    • Scoop
  • Review
  • Scoop
  • Scoop
  • Suzuka 8 Hours
  • Tips & Tricks

Corporate

About Us
Terms of Use
Privacy Policy
Disclosure Policy
Contact Us
SUBSCRIBE NOW!

2024 iMotorbike World Sdn. Bhd.(1205246-M). All rights reserved.

Limited Edition BMW Motorrad R18 “100 Years” Edition Now in Malaysia!
Moto Guzzi V100 Mandello arrives in Malaysia starting from RM99,900
Nak Jual Beli Motor 😊 ?
WhatsApp
Hi iMotorbike 😊
Open chat