Singapore-based and Thailand-operated Sleek EV has announced the first closing of its $8.5 million Series A funding round, led by KYMCO Capital.
This investment validates Sleek EV's innovative approach to electric motorcycles, featuring AI-driven software and a comprehensive end-to-end ecosystem including manufacturing, charging infrastructure, and integrated software solutions.
Strategic Partnership with Industry Veteran KYMCO Capital
KYMCO Capital, backed by global powersports giant Kwang Yang Motor Co. with over 60 years of experience, brings optimized supply chains and expertise in battery and swapping technologies from Taiwan and China.
Sleek EV CEO and co-founder Kantinan Tunveenukoon (Ben) stated, “This investment from KYMCO Capital is a strategic one, validating our technology and ability to compete globally.”
The funding will accelerate Sleek EV's expansion, aiming to position Thailand as the electric motorcycle hub of ASEAN and achieve the #1 EV motorcycle brand status in Thailand by the end of 2026.
Boosting Infrastructure and Production in Thailand
Future plans include scaling production at an expanded facility in the Eastern Economic Corridor, ramping up R&D, and increasing EV S-Charge stations by more than sevenfold across Thailand.
Leveraging partnerships with PTT OR, Krungsri Auto, Toyota Tsusho, and Grab, Sleek EV is forging deeper ties with dealers and regulators to boost market penetration.
Impact on Southeast Asia's Urban Mobility
This move underscores the growing momentum in Southeast Asia's EV sector, where electrification promises greener urban transport amid rising demand for sustainable two-wheelers.
Gary Ting, Managing Partner of KYMCO Capital, emphasized, “With KYMCO's capabilities and Sleek EV's ecosystem, we are empowering businesses and governments to go electric in Southeast Asia.”
Founded with a vision for AI-enhanced mobility, Sleek EV is redefining standards for safety, quality, and efficiency in regional charging and battery swapping.
Looking ahead, this funding positions Sleek EV to lead the transformation of urban infrastructure, fostering a collaborative ecosystem for data-driven, electrified commuting across Asia Pacific.
Alfred Lee
