[L-R] Beep co-founders Kristoffer Jacek Soh (CEO) and Benjamin Long
Beep, an IoT company that provides interoperable charging networks for businesses and drivers in Singapore, recently concluded a US$3.3 million pre-Series A round led by Granite Asia, Farquhar VC, SUTD Venture Holdings, and Wing Vasiksiri.
The startup plans to use the funds to accelerate its expansion in Thailand and Malaysia.
e27 spoke with Beep co-founder and CEO Kristoffer Jacek Soh to gain more insights into the company’s expansion plans.
Edited excerpts:
On Malaysia and Thailand expansion
We are on an ambitious path of expansion into Malaysia and Thailand. This new capital injection will fuel Beep’s growth, enabling us to solidify our partnerships and build a robust operational presence in these key markets.
We will also enhance our partnerships with major players in Malaysia and Thailand’s electric vehicle (EV) industry. These include Sharge and Evolt, two of Thailand’s largest EV charging operators, as well as KINETA, a subsidiary of Sime Darby, a leading charging operator in Malaysia.
This investment is also critical to attracting and expanding the company’s manpower to sustain regional operational growth.
On scaling the business
Our strategy is centred on continuous adaptation and innovation to scale our operations and remain competitive in the rapidly evolving IoT and e-mobility sectors. Beep consciously connects with regional partners to gain local insights and tailor our offerings to meet the specific needs of each market.
A key differentiator is our flexible approach to connecting charging partners to the platform. This allows for greater innovation without the constraints of rigid standards. This flexibility has enabled us to expand the depth and breadth of our service offerings, ensuring that Beep remains a valued player in the eMobility ecosystem.
Also Read: Beep secures US$3.3M to expand interoperable EV charging network in Thailand, Malaysia
One of our most innovative contributions to the EV industry is Voltality’s VoltNet platform, which is akin to a “Google Translate” for EV charging management systems. Inspired by the technical fragmentation in Southeast Asia’s charging infrastructure, the VoltNet platform addresses the challenge of standardisation by providing a software solution that allows charging operators to join Beep’s network with minimal cost and coordination.
This approach enables operators to innovate and adapt based on their roadmaps while maintaining the industry’s progress towards a seamless charging experience.
As Southeast Asia experiences a surge in electric car sales, we envision Voltality playing a pivotal role in shaping the future of e-mobility in the region. Voltality aims to make the transition from Internal Combustion Engine (ICE) vehicles to EVs as seamless as possible by integrating with ecosystem providers to offer a smart, seamless charging experience.
For example, by working with original equipment manufacturers (OEMs), Voltality can enhance charger discoverability and reduce range anxiety, making EV ownership more convenient for consumers and businesses alike.
On partnerships
Partnerships have been instrumental in Voltality’s growth and success. For example, we have partnered with companies such as Grab to onboard more charging operators onto the Beep platform. This partnership has been crucial in supporting Voltality’s regional expansion by tapping into Grab’s extensive experience and expertise across Southeast Asia.
Additionally, a collaboration with Huawei Consumer Cloud Service has streamlined the EV charging process for drivers, integrating Voltality’s data into Huawei’s Petal Maps and HMS for Car platforms. This allows users to access real-time information from over 5,000 charging stations, further enhancing the charging experience.
On challenges
The main challenges for Beep are building credibility and trust, especially when expanding beyond our home base in Singapore. We tackle these challenges by forging strong relationships with customers, often spending countless hours in their workshops to understand their needs and technical challenges.
This hands-on approach not only built trust but also proved invaluable during the COVID-19 pandemic when supply chain disruptions threatened the timely delivery of products. The trust Beep has cultivated with our customers allowed for extended delivery deadlines, a testament to the strong relationships they had built.
Also Read: The future of car-sharing industry will be shaped by trends like EVs, autonomous vehicles: SOCAR CEO
During the pandemic, we worked closely with the Singapore government and the Hong Kong Ministry of Health to enable cashless payments and minimise human interactions, which were crucial during the height of the pandemic. This collaboration paved the way for organic distribution channels and a robust referral system, which automated Beep’s sales processes and helped the company expand into new markets without a physical presence.
Convincing local partners in Singapore to pilot our new charging station technology required a year of dedicated research and development and another year of negotiations to secure proper contracts.
Singapore’s reputation for quality technological innovation helped establish initial trust with potential partners in neighbouring markets. However, this was not enough. We tapped into our investors’ networks and leveraged support from Enterprise Singapore and various accelerator programmes to forge deeper connections with key EV decision-makers, which facilitated our entry into new markets.
On future plans
In the near term, our focus is on solidifying Beep and Voltality’s positions as key ecosystem enablers in Malaysia and Thailand, supporting these countries’ rapidly growing EV populations.
In the long term, we aim to expand into other emerging EV markets in Southeast Asia, such as Indonesia and Vietnam.
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Image Credit: Beep
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