Winnonie reaffirms “E-bike rental service platform” leadership, successfully raising Series A funding, totaling THB 80 million, partnering Yip In Tsoi and i-Motor, enhancing Greenovative capacity, open to new partnerships for exponential Green Ecosystem growth

Winnonie, the first Thai startup to pioneer e-bike platform with s complementary automated battery swapping network, raised THB 80 million, or USD 2.7 million, in Series A funding from 2 investors; Yip In Tsoi and i-Motor, preparing to launch its next funding round within the year to expand the business exponentially to accommodate demand from green motorcycle taxis and riders looking to reduce their expenses, debt, and carbon emissions, boosting their quality of life that is “Good for us and the planet”. It targets to provide service to 2,000-3,000 users in 2022, before expanding the business to more than 20,000 clean energy motorcycle users by 2025.

Rawee Boonsinsukh, Executive Vice President, Innovation and New S-curve Business Development, Bangchak Corporation Public Company Limited and Director, Winnonie Company Limited stated that “Green innovative business for the environment and society like Winnonie is a startup that Bangchak supports through the Bangchak Initiative and Innovation Center (BiiC) from the very beginning, starting from the creativity of employees applying Design Thinking principles with the objective of improving the quality of life of motorcycle taxi drivers, reduce debt, and reduce associated occupational costs, which developed into the first Thai startup to pioneer e-bike services with a battery swapping network.”

Today it has become the largest “e-bike platform service with a 24-Hour automated battery swapping station network” business in Thailand, successfully raising Series A funding in the amount of USD 2.7 million or THB 80 million from two investors, namely, Yip In Tsoi, the Total IT Solutions Provider, and I-motor, a Thai e-bike manufacturer, that see the opportunity and capacity of the business model that addresses user demand, fostering continuous collaborative business expansion.

Rawee continued that the fund raising will strengthen Winnonie allowing it to exponentially expand its network in 2022 to provide automated batter swapping services to 50% of the Bangkok area, servicing about 2,000 – 3,000 users. Winnonie plans to expand the number of automated battery swapping stations to 600 locations supporting 20,000 user by 2025, including enthusiasts of clean energy and cost efficient motorcycle users, fostering the creation of a green society, boosting sustainable improvement of the quality of life and environmental protection, through a driving experience that is “Good for us and the planet”.

Marakot Yipintsoi, President and Chief Executive Officer, Yip In Tsoi Company Limited, the Total IT Solutions Provider, stated that “Winnonie was created by passion and creativity of the new generation to protect the environment and people in society through technology and clean energy, reflecting Yip In Tsoi’s business philosophy to create value for people and society of every generation. The investment in Winnonie is also the debut of clean energy innovative technology business for Yip In Tsoi Group, thanks to Bangchak’s initiative and support of Winnonie’s growth, providing an opportunity for the company to be a business partner. We are confident that this collaboration will surely support the creation of new good for the country, creating value for people in Thai society, the nation, and the world.”

Preecha Prasertthavorn, Chief Executive Officer, I Motor Holdings, Manufacturer, Assembler, and Retailer of E-motorcycles, stated that “presently, Thailand in 2020 has about 1.8 million motorcycle registrations, with more registrations recorded during the COVID-19 period, with many users using motorcycles in rider businesses for food deliveries. I Motor Group sees the future potential of e-motorcycle businesses, especially Winnonie, an e-motorcycle platform with a 24-Hour automated battery swapping network at Banchak service stations, which was initiated by Bangchak, and aligns with the direction of I Motor Group resulting in the partnership with Winnonie Company Limited, to exchange technology with one another, and strengthening Winnonie.”

Rawee continued “the collaboration between Winnonie, Yip In Tsoi and I Motor will help enhance the overall efficiency of Winnonie platform development, in product, service, and technology, based on data-driven development to analyze, product and service design, and creating new strategies to cater to demands, and expand to future businesses.

“As the Leader of Energy Transition with a target of achieving Net Zero by 2050 and Carbon Neutrality by 2030, Bangchak remains committed to green energy investments in harmony with environmental and social stewardship, in addition to process efficiency enhancements to reduce emissions. Furthermore, during the APEC meeting, hosted by Thailand this year, guided by the BCG economic principles, Bangchak, as the Communication Partner for the meeting, will provide Winnonie e-motorcycles for the meeting” Rawee concluded.