MVLLabs, founded in 2012 and headquartered in Singapore, operates a blockchain-based platform that records vehicle transactions, movements, accidents and maintenance in a single ecosystem. The company has driven mass adoption through TADA, which it says is Southeast Asia’s first blockchain-based ride-hailing service. MVLLabs plans to expand its mobility offerings beginning with the launch of its first electric vehicle, the ONiON T1, and accompanying ONiON mega battery swapping stations across Phnom Penh. The ONiON T1 will be sold separately from batteries, has a stated range of 100 km, and MVL projects it could lower energy costs for traditional three-wheel vehicles to US$60 a month in Phnom Penh market conditions. MVLLabs is taking pre-orders with first production units expected by the end of 2021 and says the ONiON T1 project is expected to create 380 new jobs. The company also secured Qualified Investment Project status from the Cambodian government, giving it access to incentives including tax exemptions.

Total raised

$15M

Funding rounds

1

Latest round

Series B

Latest activity

Apr 2021