Singapore
Oyika, founded in 2018 and headquartered in Singapore, is making significant strides in the Energy and Energy Storage sectors. Their mission, encapsulated in the slogan "Lowering the barriers to EV adoption," aims to facilitate the transition to electric vehicles by offering a practical solution to traditional fuel alternatives.
The company provides a compelling and cost-effective service through swappable batteries and a network of accessible swap stations tailored for electric two-wheeler (e2W) riders. Their Battery-as-a-Service (BaaS) model supports a broad array of e2W brands and models, broadening their market reach and consumer appeal.
In terms of funding, Oyika raised a substantial $10.80M Series B investment on 21 April 2023, with backing from prominent investors Banpu Next and Yinson GreenTech. This financial backing is a strong indicator of confidence in Oyika's potential to revolutionize the energy sector through their innovative solutions.
