E-scooter Service Neuron Mobility Secures $5 Million Funding To Accelerate APAC Expansion
Southeast Asia's first regional e-scooter sharing service is set to shape the future of urban mobility
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Many global companies are powering the future of urban mobility with innovations in the transport sector. Automobile giants like Tesla, Tata, and Hyundai have already rolled out various projects to give a boost to the global market of electric vehicles. While these global companies appear to be leading the charge, the EV battle has only just begun.
Singapore-based smart e-scooter startup Neuron Mobility sees e-mobility as an opportunity for the country to leap ahead of its competitors in the race to develop electric scooter-sharing services. Founded in 2016, Neuron Mobility has some of the industry's earliest patents on a smart scooter and intelligent charging solutions in the personal mobility space.
The startup recently announced that it has raised $5 million funding from SeedPlus, 500 Startups, SEEDS Capital, ACE Capital, and several other prominent angel investors and family offices. Neuron Mobility will use the funds to expand its services across Asia-Pacific and develop a next-generation scooter.
A Sustainable Mobility Solution for All
In recent months, the startup has launched the first e-scooter-sharing service in Bangkok and Chiang Mai and will launch its service in Malaysia in December.
"We see an increasing need for last mile mobility solutions across Asia. We are grateful for the support of our partners who believe in our vision of building a sustainable micro-mobility platform that works with cities to solve the needs of consumers looking for a fast, convenient, and affordable mode of transport. This latest funding allows us to apply our experience in operating in Singapore and Thailand, and expand our services to the wider Asian region, giving commuters a sustainable personal mobility solution," says Zachary Wang, chief executive officer of Neuron Mobility.
In addition to using the funds to expand its presence across the region, the company will also be developing a superior commercial grade, UL certificate-compliant e-scooter that will set a new standard for enhanced robustness and rider safety. The company has a proprietary supply for its scooters, allowing them greater control over the manufacturing of scooters and enabling quicker scale up.
Deciding Factors for Investment
The startup strongly believes in working with local governments to create a safe and positive riding experience. It was one of the first to incorporate geo-fencing technology to ensure scooters are parked within designated parking zones. First-time riders are required to go through an instructional series on safety before they start using the service, and the company will be unveiling a "Ride Responsibly' campaign soon that focuses on user education.
"The co-founders impressed us with their strategy around building an e-scooter service, which tends to be very different from ride-hailing or bike-sharing, given the short trips and charging infrastructure needed to deliver a great customer experience. Using homegrown IoT, predictive analytics, and network optimization, the company is positioned favorably to rapidly expand across Southeast Asia. We strongly believe in the company's vision of working collaboratively with cities and local stakeholders to drive growth in smart city initiatives," says Chirayu Wadke, partner at SeedPlus.