SLEEK EV, a leading technology manufacturer and innovator in vehicle electrification – primarily focused on electric scooters – has announced the first closing of its Series A funding round, raising US$8.5 million.
The round was led by KYMCO Capital, a private equity fund backed by global powersports leader Kwang Yang Motor Co., Ltd. (KYMCO), with participation from more than 20 supply chain partners in Taiwan and China. Existing investors January Capital, Krungsri Finovate and Orzon Ventures also participated in the round.
The funding marks a major milestone as SLEEK EV accelerates its pan-Thailand expansion and furthers its ambition to establish Thailand as a regional hub for electric motorcycles in Southeast Asia.
Scaling production, technology and charging infrastructure
Proceeds from the first closing of the Series A will be deployed across several strategic priorities:
Manufacturing Expansion: Expanding production capacity through an expanded facility located along Thailand’s Eastern Economic Corridor (EEC). Advanced R&D: Accelerating product development by focusing on AI-powered software and intelligent AI agents to enhance rider experience and operational efficiency. Network growth: Expanding Sleek’s EV S-Charge infrastructure by more than seven times, strengthening charging and battery-swapping access across the country.
Strengthening partnerships and ecosystem leadership
Building on established partnerships with PTT OR, Krungsri Auto, Toyota Tsusho and Grab, Sleek will continue to form new strategic alliances with EV dealers, ecosystem partners and national regulatory bodies. The company aims to drive strong market adoption, improve delivery scale, and set new regional standards for safety, quality and operational efficiency in electric motorcycle charging and battery swapping.
With this funding, SLEEK EV is set to play a decisive role in shaping the next phase of Southeast Asia’s electric two-wheeler ecosystem.
Sleek EV’s long-term ambition is to become APAC’s trusted full stack EV motorcycle operating system, where partners collaborate, data compound and actions converge into a new way of urban mobility. KYMCO Capital, a strategic partner and investor, will bring 60 years of two-wheeler industry experience to SLEEK EV and support in the effort to optimize supply chains, synergize the proliferation of battery and charging/swapping technologies, and supercharge its distribution in Southeast Asia.
“This investment from KYMCO Capital is a strategic investment. It validates our technology and our ability to compete in global markets. Sleek EV is not just an electric motorcycle manufacturer. We are redefining vehicle electrification with an end-to-end ecosystem solution – manufacturing, charging infrastructure and an integrated software that ties everything together. Our goal is simple. We want to make Thailand the electric motorcycle hub of ASEAN. Our goal is to be #1 in Thailand To become an EV motorcycle brand by end-2026.” said Kantinan Tunveenukoon (Ben), CEO and co-founder of Sleek EV. “With KYMCO Capital, we are doubling down on the EV ecosystem with quality products, strong technology stack and like-minded stakeholders who can take it forward with us.”
Gary Ting, Managing Partner of KYMCO Capital, shared that “KYMCO Capital is committed to supporting the Thai electric vehicle ecosystem, building on what we have built in Taiwan and China. This investment in Sleek EV exemplifies our ecosystem in Southeast Asian markets. This partnership symbolizes the next generation of urban infrastructure transformation through vehicle electrification. With KYMCO’s deep capabilities coupled with Sleek EV offerings, we see ourselves in all Empowering businesses and governments to go electric, we strongly believe that a sleek EV ecosystem approach will play a vital role in building a green future.