Smart electric mobility company Sharkgulf plans to use the money secured in round A financing to expand its overseas market and beef up its R&D capacity.
Sharkgulf (Chinese: 鲨湾科技), a Shanghai-based medium and high-end intelligent electric motorcycle enterprise with global ambitions, has recently completed its A round of financing worth tens of millions of dollars. This round of financing was led by Maison Capital and the money will be used to expand the company's R&D team and factory capacity, as the company seeks to expand its market and improve the market layout in Southeast Asia.
Founded in 2018, Sharkgulf focuses on the research and development, production and sales of medium and high-end intelligent electric motorcycles. Short-distance electric mobility is developing fast as the world speeds towards a greener lifestyle and the COVID-19 pandemic makes people turn to more flexible transport tools. An increasing number of Chinese mobility enterprises, especially intelligent electric motorcycle companies, are heading towards the overseas market.
Currently, Sharkgulf has successfully launched its R series electric pedal motorcycle in Europe, Southeast Asia, as well as South Korea, and it has established research and development centers and offices in these areas.
In the global market, the advantage of Chinese enterprises lies in the maturity of their supply chain, while the challenge is how to localize their products and services so as to meet the expectations and needs of consumers from different cultural backgrounds.