Electric scooter maker SLEEK EV said it has secured an $8.5 million first close in its Series A funding round, led by KYMCO Capital and backed by more than 20 supply-chain partners from Taiwan and mainland China, as it looks to expand production and charging infrastructure in Thailand.
The Singapore-headquartered company, which operates primarily in Thailand, said the funding will be used to scale manufacturing capacity at an expanded facility in the country’s Eastern Economic Corridor (EEC), accelerate product development, and broaden its charging network.
SLEEK plans to increase its EV S-Charge stations by more than seven times as it seeks to strengthen its presence across Thailand and position the country as a regional hub for electric motorcycles.
The company said it will also invest in research and development, including artificial intelligence-driven software and AI-enabled features designed to improve user experience and vehicle management.
SLEEK aims to build a full-stack ecosystem combining vehicle manufacturing, charging infrastructure, battery management and integrated software.
“This investment from KYMCO Capital validates our technology and our ability to compete in global markets,” said Kantinan Tunveenukoon, chief executive and co-founder of SLEEK EV. He said the company targets becoming Thailand’s top electric motorcycle brand by the end of 2026.
Strategic investor KYMCO Capital, the investment arm of Taiwanese powersports manufacturer Kwang Yang Motor Co., said it will support SLEEK in supply-chain optimisation, battery technology deployment and regional distribution expansion.
Gary Ting, managing partner at KYMCO Capital, said the partnership reflects the firm’s strategy to replicate its mobility ecosystem experience from Taiwan and China in Southeast Asia, supporting governments and businesses transitioning to electric transport.
SLEEK said it is working with partners including energy retailer PTT OR, auto financier Krungsri Auto, trading house Toyota Tsusho and ride-hailing platform Grab to expand distribution and operational channels.
The company’s long-term strategy is to develop what it describes as an Asia-Pacific electric motorcycle operating system, using connected vehicle data and partner integration to support urban mobility services.
The funding highlights growing investor interest in Southeast Asia’s two-wheeler electrification, where high motorcycle usage and government incentives make Thailand a key early battleground.
However, scaling charging networks, battery standards and distribution partnerships will be critical for startups like SLEEK to compete against established manufacturers and low-cost imports as the region’s EV ecosystem takes shape.