Indonesia’s PT Indika Energy invests in VC-backed Damon Motors

As part of a strategic partnership, Indika will also distribute Damon’s line of motorcycles in the Indonesian market.

  • PT Indika Energy is an Indonesian diversified energy company
  • With Indika, Damon is developing a new global motorcycle platform specifically for the needs of commuters in geographies dominated by 2-wheel mobility
  • In 2021, Damon raised $30 million in Series B financing led by House of Lithium

Damon Motors, a Vancouver-based provider of electric motorcycles, secured an investment from PT Indika Energy, an Indonesian diversified energy company. No financial terms were disclosed.

As part of a strategic partnership, Indika will also distribute Damon’s line of motorcycles in the Indonesian market.

With Indika, Damon is developing a new global motorcycle platform specifically for the needs of commuters in geographies dominated by 2-wheel mobility. The new motorcycle platform shares key technology with Damon’s other vehicles, making them cleaner, safer and more efficient than all options.

“My journey with Damon started in Indonesia, so this partnership with Indika Energy brings me full circle, opening the door to one day transforming the industry at a global level,” said Damon co-founder and CEO Jay Giraud in a statement. “Indonesia has set a goal to reach net-zero emissions by 2060. Damon is equally committed with Indika Energy to achieve this goal together.”

In 2021, Damon raised $30 million in Series B financing led by House of Lithium.