Powering electric motorbikes. Meet Oyika, they’re a Singapore-based startup developing EV battery charging and swapping infrastructure. 

• ^Fundraise alert. They’ve just raised $10.8M in Series B funding!
• Valuation? The new round brings their valuation to around $62.7M. 
• Investor check. Banpu Next and Yinson Venture Capital invested. 

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🔋 Battery-as-a-service

Oyika focuses on two-wheeler EVs — they connect EV users to their network of battery charging and swapping stations.

Swap or charge. Oyika’s subscription plans allow users to swap or charge their EV batteries. 

• Users can choose pay-per-use ($0.05 a minute), prepaid weekly ($18 a week), or postpaid monthly plans ($72 a month). 
• Simply swap for a new battery within a minute. No more anxiety that you’ll run out of battery on the road. 

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🛵 Lowering barriers

The battery is brand agnostic, so feel free to use their services no matter which EV you have! 

• Users no longer need to worry about long charging times and EV battery costs. 

Choose your location. Users can access these swap stations at convenience stores or petrol kiosks. 

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📈 Motorbike strong

Although Oyika is based in Singapore, they currently provide their services in Indonesia and Cambodia. 

• Motorbikes make up 85% of all vehicles in these two countries
• However, Singapore's motorbike population is comparatively small at only 140,000.

Indonesia holds the largest market share of motorbikes in the entire region. That’s a total of 125M motorbikes! 

• It’s the third-largest motorbike market in the world, behind India and China.

We expect to see more EVs being used as the barriers to adoption lower. 

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