Chinese electric motorcycle maker Sharkgulf announced Series A financing

September 17, 2022 2:34 pm

Sharkgulf, the Shanghai-based company behind smart e-motorcycle brand Blueshark, has completed an 8-digit Series A funding led by Maison Capital. The funds will be utilized to increase the company's R&D team, factory capacity, hasten the layout of the Southeast Asian market, and fund ecological development. 

Since its founding in 2018, Sharkgulf has focused on making mid- to high-end smart electric motorcycles for the international market. Short-distance electrified travel has been gaining traction since the second half of 2021.

Currently, Sharkgulf has made its Blueshark R series available for the markets of Europe, South Korea, and Southeast Asia. In each of these three areas, the Shanghai-based has established local R&D, sales, operation management offices.

Next, Sharkgulf will invest 1.1 billion RMB to build a Blueshark factory in Qingdao in order to realize full self-production. At the same time, it will also set up the Sharkgulf China headquarter for better integration of R&D and production. The Blueshark factory is expected to be put into operation by the end of 2023, with a total annual production capacity of 1 million electric motorcycles and 2 million sets of core components.

In the next two years, it is anticipated that Sharkgulf will have applied for more than 1,000 patents worldwide, of which more than 400 will be patents for inventions. As of August 2022, Sharkgulf had filed 211 patent applications across the globe, including 130 for inventions.

The core team of Sharkgulf hails from the motorcycle, vehicle, chip, cell phone, Internet, and other industries, and is a cross-discipline composite team.