MVL LABS runs TADA, a blockchain-based, zero-commission ride-hailing platform headquartered in Singapore. The company has been pursuing vehicle electrification initiatives alongside its ride-hailing business, planning to manufacture an electric auto-rickshaw product called E-TukTuk. MVL has partnered with Myung-shin, a Korean automobile production plant, to produce the E-TukTuk for distribution across Southeast Asia. The company aims to distribute and sell an estimated 10,000 E-TukTuks by 2021 in Cambodia. Financially, MVL has raised a total of US$13.4 million to date and recently secured an additional US$5 million. The new funding is intended to accelerate MVL’s plan to supply electric vehicles in Southeast Asia.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2020