Neuron Mobility Co-Founders Zachary Wang (L) and Harry Yu
Singapore-based shared e-scooter and e-bike operator Neuron Mobility has raised US$43.5 million in Series B funding, co-led by GSR Ventures and Square Peg.
Singapore’s EDBI also invested in the round, bringing Neuron Mobility’s total funding raised to date to US$77.7 million.
The fresh capital will fuel Neuron’s international expansion strategy. It will also allow the startup to continue to design and manufacture its own safety-first e-scooters and develop and roll out a range of innovative technology at scale.
Since Neuron’s last funding round 19 months ago, the company claims to have more than tripled its operations, growing from seven cities in September 2020 to 26 cities today.
Also Read: Neuron Mobility extends Series A by US$12M to accelerate e-scooter expansion globally
Neuron Mobility designs and manufactures its own e-scooters for safety and sustainable operations. It launched a battery swappable e-scooter in 2018 for greener operations. In the same year, it rolled out a full suite of geofencing to control where and how e-scooters are ridden.
In early 2020, the startup launched an app-controlled helmet lock which integrates a helmet to every e-scooter.
Neuron Mobility expanded into Canada in May 2021 and has since gained permits to operate in over 30 per cent of all available cities. It has secured permits in five Canadian cities, including Ottawa, Calgary, Red Deer, Lethbridge, and Vernon.
It operates in 18 cities across Australia and New Zealand. The company also increased its global footprint with city launches in the UK and South Korea.
Zachary Wang, Neuron Mobility’s CEO, said: “We think our vertically integrated approach, designing and building our own e-scooters and the systems that run them, gives us a unique advantage. Proprietary technologies, like our ‘e-scooter brain’ and a range of AI innovations, are a real differentiator and help us integrate into cities in the best possible way.”
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