Neuron Mobility Co-founders Zachary Wang (L) and Harry Yu
Singapore-headquartered shared e-scooter startup Neuron Mobility has raised US$18.5 million in a new funding round led by California-based cross-border fund GSR Ventures and Australian VC firm Square Peg Capital.
Existing investors SeedPlus and SEEDS Capital (by Enterprise Singapore) also participated in the round.
The investment followed a US$3.8 million seed round in December 2018.
The company will use the fresh capital to accelerate its Australian and New Zealand roadmap, its foray into other Asia Pacific markets, and further development of its technology.
Founded in 2016 by Zachary Wang and Harry Yu, Neuron operates e-scooter sharing services across Singapore, Malaysia, Thailand, and Australia. Neuron also develops proprietary hardware which it claims improves rider safety and provides oversight and control to the cities in terms of speed, parking, and geofencing technologies.
In June, the startup ventured into the Australian market after winning the permit to operate 60 per cent of the scooter fleet allocation in Brisbane City, the capital of Queensland.
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It has also secured a license to operate the shared e-scooter programme in Darwin City in the Northern Territory of Australia, as well as a trade license to operate in Auckland, New Zealand.
Both are slated to launch early in 2020.
The company employs a team of data scientists, urban planners, and engineers who translate raw data into actionable insights for both its operations and the city’s transport planning. This includes working on real-time data integration, asset location reports, incident management, and the co-creation of preferred riding zones with cities.
CEO Wang said, “The world is on an irreversible trend to adopt micro-mobility services into cities of all kinds and sizes in the coming years. But it is not a standalone solution to transportation gaps. Successful implementation of scooter-sharing programs can only happen when there is a strong partnership between local governments and technology providers.”
“It’s exciting to see the product iteration cycle becoming shorter in the micro-mobility space. We are committed to continuing our effort in developing new technologies that make this service a seamless integration with cities around APAC,” said CTO Yu.
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