DeHeng Advised Sharkgulf Technologies on Raising USD 10 Million in Series A Financing

2022-09-16

Sharkgulf Technologies Group Limited, an international medium- and high-end intelligent electric motorcycle enterprise, has recently completed a round of financing of USD 10 million, with Maison Capital as the lead investor. The money will be used to expand the R&D team and the production capacity, and accelerate to build up its market presence and business ecosystem in Southeast Asia.

Founded in 2018, the company is mainly engaged in the R&D, manufacturing and sales of mid- and high-end branded smart electric motorcycles to the global market. As of August 2022, 211 of its patent applications had been accepted worldwide, including 130 patents for invention. Its patent applications worldwide are expected to exceed 1,000 in the next two years, including more than 400 patent applications. As far as customers are concerned, the three-year sale contracts it has signed in overseas markets boast a guaranteed value of about RMB 2.5 billion.

The DeHeng team, with primary support from lawyers Zhang Lei, Fang Wen, Shang Shuili and Li Yao, participated in due diligence, document drafting, deal negotiation, delivery follow-up and other matters on behalf of the lead investor. They worked closely with each other and provided professional and efficient legal services for the client.