iMotorbike Secures $10 Million in Series A Funding to Expand in Southeast Asia

iMotorbike, a Malaysian platform for buying and selling pre-owned motorcycles, has successfully secured $10 million in its Series A funding round, completed on January 21, 2025. The round was led by Headline, a global venture capital firm, with participation from Gobi Partners, 500 Global, Ondine, Astor Management, and Endeavor Catalyst. The funds will support the company’s expansion, which includes opening new inspection centers and showrooms in Penang and Johor.

Founded in 2016 by Gil Carmo and Sharmeen Looi, iMotorbike has grown its customer base to 10,000 and operates in Malaysia and Vietnam. The platform aims to strengthen its presence across Southeast Asia, with the latest funding round completed in two tranches, including the contribution from Headline.

The Series A funding round was completed in two phases, with the first raising $2.6 million in June 2023. The most recent tranche, led by Headline, brings the total amount to $10 million. This investment will aid iMotorbike in further expanding its operations across Southeast Asia, focusing on the Malaysian market. The company plans to establish new inspection centers and showrooms in key locations, including Penang and Johor, to support its growing customer base.

In addition to enhancing its presence in Malaysia, iMotorbike aims to extend its reach internationally, with plans to open a new branch in Taiwan. This expansion will complement the company’s efforts to improve its services and infrastructure. The new funding will also help iMotorbike strengthen its workforce by hiring skilled mechanics and operations staff for its operational capacity.

iMotorbike’s co-founders, Gil Carmo and Sharmeen Looi, are optimistic about the company’s future, as the funding validates the platform’s potential in the pre-owned motorcycle market. Carmo talked about scaling the company’s operations and enhancing the platform to meet increasing demand. The goal is to make pre-owned motorcycles more accessible and convenient for customers, setting new industry standards.

iMotorbike’s growth trajectory has been fueled by the trust it has built with customers through its transparent and customer-friendly services. The platform’s commitment to quality is evident in its 170-point inspection process and its hassle-free six-day return and six-month warranty policy. 

Randolph Hsu, Co-Founder of Ondine Capital, expressed strong confidence in iMotorbike’s leadership and its potential to strengthen its local and international presence further. With this backing, iMotorbike aims to continue its mission of transforming the motorcycle market across Southeast Asia and beyond.