iMotorbike closes Series A funding round at $13.5m

The company said it will be used to expand iMotorbike’s presence in Malaysia.

Singapore-headquartered iMotorbike, a motorcycle platform for buying and selling pre-owned motorcycles, has closed its Series A funding round at $13.5m (US$10m).

The round was led by Headline, a global venture capital firm, with participation from other venture capitals such as Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst.

The company said it will be used in expanding iMotorbike’s presence in Penang and Johor in Malaysia and Taiwan where a new branch is currently being planned.

With the new funding, the company also aims to grow its workforce by hiring mechanics and operations staff.

($1=US$0.73)

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