
Investor Data Room
Investment Overview
Company: OKA Holdings Pty Ltd · Head Office: Fremantle, Western Australia · Investment Stage: Pre-Series A · TRL 8 — Technology Complete
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Australia's Only All-Terrain Automotive Marque, Re-Engineered for Global Scale
In a world demanding more capable, efficient off-highway mobility solutions across mining, defence, emergency response and remote infrastructure, OKA Australia has reignited one of Australia's most iconic and capable automotive brands. The Gen-5 OKA platform represents the next evolution of a 40-year engineering legacy - designed for critical missions in extreme terrains, and now ready for global expansion through an IP-led, capital-efficient scale up business model.
OKA Australia designs, commercialises and licenses its proprietary all terrain vehicle platform, trusted for its performance in the harshest operating environments. Based in Fremantle, Western Australia, the company serves industrial and government clients around the world.
✅ Proven Vehicle Platform: Originally developed for defence and mining applications in the 1990s with over A$35m invested in its IP, OKA vehicles have a proven and long track record of durability, payload capacity, and off-road performance. Many of the original 500+ vehicles produced remain in operation today.
✅ Next-Generation IP & Product: The Gen-5 OKA marks the next evolution of the original loved OKA platform. With a modernised driveline, OKA has increased the engine power fourfold and achieved type approval for mass production. OKA's cab and chassis IP is designed to accommodate the latest diesel, electric, hybrid, and hydrogen driveline technology.
✅ Scalable, Capital-Light Business Model: OKA is scaling output to meet demand through a capital-efficient model that leverages sub-assembly manufacturing partners and global industry networks. This decentralised approach enables production growth to a targeted 2,500 vehicles annually without major investment in fixed manufacturing infrastructure.
✅ Prioritising Recurring Revenue Streams: Revenue is generated through OKA's emerging Vehicle-as-a-Service (VaaS) model, international licensing royalties, and selected brand collaborations across mining, utility, government, emergency response and adventure markets.
✅ Investor Momentum: Backed by respected investors, engineers, and executives with experience in listed and private businesses, OKA is raising equity to scale operations and enter global licensing agreements.
- OKA Investor Newsletter — Edition 02 (27 January 2026)
- OKA Investor Newsletter — Edition 01 (20 October 2025)
🔭 Vision Statement
To build the world's most capable and enduring all-terrain vehicle platform - trusted in critical missions, engineered for extreme conditions, and powered by innovation grounded in utility.
🎯 Mission Statement
OKA exists to serve the people and industries that rely on us. We stand with our customers across the full lifecycle of every vehicle, staying instep with their needs, their environments, and their missions. By fixating on operational excellence, deep customer partnerships, and disciplined investment in capabilities that matter, we create long-term value for our customers and, through their success, for our shareholders.
OKA Holdings Pty Ltd is offering eligible investors the opportunity to subscribe for fully paid ordinary shares under an Equity Round of up to A$1,500,000
- Instrument: Fully Paid Ordinary Shares
- Issue Price: A$0.5167 per share
- Pre-Money Valuation (fully diluted): A$7,145,412
- Minimum Investment: A$25,000
- Offer Period: Open 1 June 2026
Up to 2,903,038 shares will be issued depending on total subscriptions.
Use of Funds
Proceeds from the capital raise of up to A$1,500,000 will be used to support the commencement of commercial production of the OKA Gen-5 platform, strengthen the Company's balance sheet, and fund key operational and growth initiatives. The allocation of funds reflects a balanced approach between operational execution within Australia and strategic growth initiatives.
- Corporate operations & overheads: A$580,000 (39%)
- Demonstration & R&D vehicle: A$375,000 (25%)
- Engineering, tooling & R&D: A$350,000 (23%)
- Business development, systems & defence compliance: A$100,000 (7%)
- Brand development & marketing: A$50,000 (3%)
- Capital raising & miscellaneous expenses: A$45,000 (3%)
OKA's medium term objective is to implement a Vehicle-as-a-Service (VaaS) model that shifts revenues from manufacturing sales to recurring income across the full operating life of the asset. This approach draws on the proven Rolls Royce business model of selling performance and uptime in-service rather than just units, aligning and sharing it value created from availability, reliability and through-life cost. This approach builds on OKA's reputation for durability and long service life with the aim to reduce uptake friction, extend lifecycle value, and support predictable production planning. Across all commercial customers, starting with Australia, our aim is to be the primary in-service provider, supporting vehicles from deployment through multiple operating cycles.
OKA's VaaS strategy will be structured to expand long-term recurring revenue while preserving and protecting its balance sheet. The model OKA is developing separates vehicle ownership from vehicle operations, allowing OKA to unlock the full lifecycle economics of each asset without taking on the asset burden typically associated with fleet-based business models.
The foundation of this strategy, beginning with a planned pilot in 2026, is an off-balance-sheet financing approach executed through specialised SPVs, most effectively structured as unit trusts. These trusts own the vehicles and receive the rental and lease payments, while OKA acts as the operating partner (OpCo) responsible for customer origination, lifecycle management, coordinating servicing, data and telematics oversight, and end-of-life refurbishment, redeployment or disposal.
This structure mirrors the asset-light service models used successfully in aviation, rail, industrial machinery and commercial equipment finance. The same approach is increasingly standard in OKA's core sectors of mining, defence and emergency response.
For example, in mining, contract operators routinely lease entire fleets through third-party financiers, while OEMs such as Caterpillar and Komatsu have grown their revenues by delivering long-term maintenance, parts supply and uptime guarantees rather than owning the assets themselves.
PROBLEM: Off-Road Transport Isn't Keeping Up With Global Demand For Capability, Reliability, And Emissions Reduction
Critical sectors like mining, defence, and emergency response face mounting pressure to operate in harsher, more remote conditions while meeting lower-emission mandates and reducing downtime. However, the global market for capable, adaptable off-road transport remains constrained by chassis design. Key attributes required by end applications is constrained by mass manufacturing models, and requirement for extensive aftermarket modification by third parties to ensure these vehicle fit for service.
⚠️ Over-engineered Mass Produced Vehicles: Established OEMs offer expensive vehicle platforms with overly complex electronic systems that are prone to failure in remote environments and require specialist technicians for diagnostic support. This adds to maintenance complexity, downtime and unpredictable operating costs.
⚠️ Chassis Fatigue: Chassis found in many light-rigid vehicles are engineered for mass production and not for extreme environments. These chassis fail, twist or corrode within a few years of service. Because of mass-production techniques, these vehicles often require significant aftermarket modification and lack the structural integrity to be remanufactured beyond a single application.
⚠️ Extensive After Market Modification: Traditional OEM vehicles require lengthy procurement cycles and significant aftermarket rework to meet mining, defence, and remote operational requirements - adding cost, complexity, warranty issues and delays to deployment.
⚠️ Changing Tactical Needs – Increasing frequency of fires, floods, and cyclones demands vehicles capable of operating in extreme, unpredictable environments. Traditional platforms are not built for these evolving frontline conditions.
⚠️ Capital Renewal & Tariff Risk – Traditional centralised mass manufacturing faces costly reinvestment cycles, rigid supply chains, and limited adaptability to local needs. Their centralised production models are increasingly exposed to tariffs, geopolitical disruption, and rising supply chain volatility.
SOLUTION: OKA Australia Capital-Efficient Vehicle Platform Built for Mission-Critical Performance and Global Licensing
OKA is scaling production to meet growing demand for a proven Australian all-terrain platform, modernised for the energy transition and engineered for scalable production through licensing, modular assembly, and next-generation of electric and hydrogen vehicles.
✅ Engineered for Extremes: OKA delivers a ready-to-deploy, emissions-compatible vehicle platform for mining, defence, utilities, emergency response, and off-road logistics applications.
✅ Governments and Licensing Partner Model: OKA enables regional production through a commercial licensing model, supporting local economic development without the capital intensity of full-scale manufacturing.
✅ Long Service Life: Lasts 6x Longer: OKA vehicles are engineered for durability, with a target service life of 20 years. Many of the original OKAs built in the 1990s remain operational more than 30 years later. In contrast, comparable vehicles from peer manufacturers are often retired after just 3 to 5 years in harsh environments.
✅ Modular Design: Built to support a multi-decade lifecycle, the OKA chassis enables easy remanufacturing, adaptation to new applications, and integration of alternative drivetrains. Convert from single cab to crew cab or bus configurations in under 6 hours. Its modular architecture ensures long-term utility across changing operational and energy requirements.
✅ Unmatched Wheelbase Payload: Wheelbase and width the same as standard pickup (Land Cruiser) but can carry 6X more payload.
✅ Production Model Built for Localisation: OKA's decentralised production model supports regional final assembly and reduces reliance on global supply chains. This approach mitigates tariff exposure and simplifies logistics in remote or strategic locations.
✅ Speed and Scale: Proven platform architecture enables rapid deployment through a network of sub-assembly partnerships. This production model enables lean production of up to 2,000 vehicles per year without the need for fixed infrastructure expansion.
✅ Future-Ready Architecture: Compatible with diesel, hybrid, electric, and hydrogen powertrains to meet changing energy, emission and performance requirements.
OKA operates in a globally undersupplied segment of the commercial vehicle market in the light and medium-rigid all-terrain vehicles built for demanding environments and mission-critical applications. Converging trends include:
- Rising Modernisation of Ageing Armed Forces Fleets
- Fleet Electrification and Decarbonisation Mandates
- Resilience and Mobility in Climate-Affected Infrastructure Zones
According to the Australian Department of Infrastructure (DITRDCA), there were approximately 630,000 registered rigid trucks in Australia as at 31 January 2024, representing a 6.4% increase from the previous year. Notably, light rigid trucks were the fastest growing vehicle category, with a 13.7% year-on-year increase.
🌐 TAM - Total estimated global demand for light-rigid all-terrain vehicle. Estimated at 250,000 vehicles required annually in the OKA GVM class worth estimated A$87.5 billion per annum.
📊 SAM - Total estimated number of vehicles per year that match OKA's target capability class. Estimated at 25,000 vehicles required annually in the OKA GVM class worth estimated A$8.75 billion per annum.
🎯 SOM - Target volume OKA aiming to capture annually once scaled through fleet leasing and international licensing model. Targeting at 2,500 vehicles annually in the OKA GVM class worth estimated A$875 million per annum.
OKA serves both domestic and international clients across critical sectors requiring high-performance all-terrain vehicles.
Target clients include:
⛏️ Mining & Resources: Site access, maintenance, and response fleets
⚡ Utilities & Infrastructure: Power, water, telecoms in regional operations
🚒 Emergency Services: Bushfire, flood, and remote rescue applications
🪖 Defence: Army, Reserves, logistics and support units
🏕️ Expedition & Adventure: Commercial tourism, overland operators, remote logistics
🏭 International Licensees: Partners assembling and distributing OKA vehicles under exclusive regional agreements. This include government clients.
🛡️ Proven Modular Platform: Suits multiple sectors with unsurpassed reliability, unlike fixed-role OEM vehicles.
🔧 6X The Economic Life: Long service life that is 6X longer than other utility vehicles.
📦 4X Payload Capacity: Designed to carry heavy loads across any terrain while maintaining stability, durability and operator safety.
🛠️ Modular Design: Engineered for easy reconfiguration, remanufacture, and conversion from diesel to EV, hydrogen or hybrid
🇦🇺 Sovereign Advantage: ADR-approved Australian OEM with procurement access and local assembly model within growth markets.
🏗️ Lean & Scalable Delivery Model: Sub-assembly + licensing reduces cost, risk, and lead times.
💸 Recurring Revenue Model: Long-term fleet leasing and licensing drive predictable, scalable cash flow beyond upfront vehicle sales.
🕰️ Historic Milestones Achieved
- Over 500 OKA vehicles deployed across military, mining, and off-road fleets since 1986
- Clients & operational track record with Australian Army, RAAF, UN peacekeeping, and major resource operators
- Multi-decade performance record in remote Australia, PNG, Africa, and the Middle East
- Over A$35 million and 40 years invested in perfecting engineering of proprietary cab and chassis design
🎯 OKA Australia's Last 12 Month Achievements
- June 2025: Agreement with Vytas for Hydrogen On-Demand Prototype
- September 2025: Varley Group Agreement
- October 2025: Completed Acquisition of OKA IP and OzTerrain Assets
- December 2025: Signed LOI with Cummins Inc
- March 2026: Closed $500,000 of new equity
🚀 Next Up: 2025–2028 Growth Objectives
- Conclude A$1.5m equity pre-series A round
- Execute capital-efficient scale-up model capable of producing 2,000 vehicle per annum
- Targeting to 422 Gen-5 OKA Vehicle by 30th June 2029 (90 under leased agreements, 456 under licensed partner/s, 46 direct sales)
- Unlocking Brand Value Potential: targeting 500,000+ followers
- 80% - Oliver & Zoe Barnes - OKA Holdings Founding Directors
- 4% - Seefeld Investments - Family Office of ex Glencore Executive David Trimboli
- 4.6% - Sydney Family Office - Private, reference available on-demand
- Mining Executive / Family Office - Private, reference available on-demand
H₂ + ⚡ Vytas GHOD Hydrogen Gen 5 OKA
Vytas has selected OKA to develop a world-first dual-fuel diesel–hydrogen variant of the Gen 5 platform, integrating Vytas' proprietary Green Hydrogen On Demand (GHOD) technology.
The 6.7 Cummins powertrain used by OKA is available in a hydrogen format
🛻 + 🏗️ Quick-Change Rear Body System (OKA-QC)
OKA is developing a quick-change modular body system allowing operators to quickly swap trays, tanks, firefighting units, pods or campers. This will reduce downtime, improve asset utilisation, and enable licensable modular standards across diverse fleet applications.
👣 Semi-Autonomous "Follow-Me" Capability
OKA is exploring semi-autonomous capabilities for "follow-me" and waypoint-based operation in agricultural, construction and disaster zones.
While OKA remains a private company, the Board is committed to providing shareholders with future liquidity options, including:
Secondary Market Facility: OKA will utilise a structured secondary market platform to enable eligible shareholders to sell or transfer shares to approved buyers.
Exit Pathways (5 Year Horizon): Executive Chairman, Oliver Barnes, experienced in both private and ASX-listed companies, OKA is committed to providing shareholders with future liquidity. The Board will assess formal exit options based on market conditions, shareholder requirements and business maturity, including:
- IPO on a recognised exchange;
- Strategic sale;
- Private equity buy-in with partial liquidity; or
- Management buyout or share buyback, if supported by surplus capital.
Legal Advisors
Thomson Geer Lawyers
Level 29, Central Park Tower, 152-158 St Georges Terrace, Perth, WA 6000
Partner: Hedley Roost
Hedley Roost is a corporate, securities and M&A lawyer who helps form, fund, buy and sell businesses.
Hedley has over 19 years' experience in Australia and the UK in a wide range of corporate and commercial law matters, including domestic and cross-jurisdictional mergers and acquisitions (public and private), capital raisings, restructuring and insolvency, joint ventures and private equity.
Corporate Advisor
Caerus Capital — Partner: Chris Michael
Accountants
Origin Business Consultants Pty Ltd
Suite 12, 162 Colin Street, West Perth, WA 6005
Origin BC are Supply Nation Certified