OMOWAY, a smart mobility brand, has raised tens of millions of dollars in its Pre-A and Pre-A+ funding rounds. The rounds were led by Sequoia China and Xinghang Capital, with support from ZhenFund, Huiyou Capital, and OMOWAY’s founder He Tao, who is also a former co-founder of XPeng Motors.
The company will use this new funding to start large-scale production and delivery of its main product, improve its smart technologies, and expand into global markets faster
OMOWAY has solved a major problem in making self-balancing smart electric motorcycles on a large scale. This gives the company a strong advantage in the market.
Its main model, OMO X, has successfully completed pre-production testing and is now moving into the delivery stage. OMOWAY is aiming to become the world’s first company to deliver self-balancing smart electric motorcycles on a large commercial scale.
While many companies only have self-balancing motorcycle prototypes, OMO X already has a working self-balancing system. It turns on automatically at low speeds, such as in slow traffic or while stopping, so riders do not need to keep putting their feet down.
The system also includes smart MotoRobot features. These help the bike understand its surroundings, give safety alerts, and provide better balance when starting on hills or parking on sloped roads.
OMOWAY plans to first launch its OMO X motorcycle in Indonesia. The company has already partnered with more than a dozen local motorcycle distributors who have many years of experience in the industry.
By using these strong local partners, OMOWAY wants to test and improve its product in Southeast Asia’s large motorcycle market. The company will also improve performance for different road conditions as it expands to other countries around the world.
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